In June 2005, P.T. Metafora International will commence construction of a 176 unit Condominium Hotel on a 4.8 hectare site in the Bali Tourism Development Corporation (BTDC) at Nusa Dua.
Set for completion and occupancy in late 2006, the US$ 19 million project will comprised 10 towers - 6 for short term rental to the public and 4 dedicated to private residences.
Located in close proximity to the beach and Nusa Dua's golf course, units will be sold at prices starting from US$140,000 to US$300,000 for the top-of-the-line penthouse model.
According to reports in the Indonesian-language Bisnis Indonesia, one tower has been pre-sold to Accor Australia.
Novotel has been appointed to operate and manage the 108 unit condominium hotel and have guaranteed an annual rate of return on investment (ROI) of 8% for the first 5 years of ownership in combination with the owner's right to occupy purchased units for 21 days of every year.
Discovery Tours. Articles may be quoted and reproduced
if attributed to http://www.balidiscovery.com.