Hanno Soth One of Bali’s Most Successful Developers Looks to the Future
Seminyak – The chairman of the Hanno Group and owners of C151 Resorts, winner of this years International Business Awards says that Bali, like so many destinations in Asia, continues to see steady growth in the tourism sector despite global slow downs.
Real Estate prices in places like Bali, where there is a limited supply of prime property will continues to feel the pressure of both foreign and domestic investors vying to get a foot in a market says Soth. Bali continues to see tourism figures increase dramatically and demand for luxury accommodation grow steadily.
The Biggest issue now confronting local governments and developers alike is the strain on infrastructure, the development of which has not kept pace with the rapid growth in tourism both from domestic and foreign arrival.
Bali is currently suffering from all the symtoms of any place that has grown to fast without adequate planning. The Airport, roads, sewage treatment, water and electricity supplies are all becoming stressed.
Looking ahead there is still lots of opportunity to develop in Bali. However, this will require a growing cooperation between the private and government sectors, to address current problems and initiate solutions.
Are Bali developers and the local governments prepared to work together to tackle these issues. They have no choice. Both are facing the same gridlock.
Strains on water tables are predicted to reach a critical lows by the year 2020, says Soth.Filed under: The Island