thestandard.com.hk, (HONGKONG) – Bali beckons By Ivy Ong-Wood
Conceived in partnership with renowned architect Alexis Dornier, the property boasts 40 exclusive villas sprawled across two hectares, complete with state-of-the-art communal amenities.
Reflecting OXO Living’s green credentials, the upcoming development will be equipped with solar panels, rainwater catchment areas, water treatment, osmosis water filters, and recycled or recyclable raw materials.
Modern villas, ranging from 1,980 to 3,000 square feet and designed to appeal to a global clientele, are priced from US$500,000.
Located on the prime Balinese coastline in Tabanan, OXO The Residences is minutes from the central expat hub of Canggu, and from Tanah Lot with its many temples and cultural attractions. Also nearby is Nuanu City, a 44-hectare integrated ecosystem providing dedicated spaces for education, arts and culture, health and entertainment amidst nature.
Said Johannes Weissenbaeck, founder and CEO of OXO Living: “OXO The Residences is poised to redefine neo-luxury living in Bali. Our commitment to international standards ensures that our developments resonate with both local and global audiences. Residents will have exclusive access to the myriad of facilities that the nearby Nuanu City has to offer, enhancing their living experience.”
OXO Living has developed and owns around 30 properties in Bali worth US$43 million – consisting of private residences, villas, townhouses, coworking studios, resorts and a 20-meter yacht in the Komodo National Park.
The Residences marks a pivot from OXO Living prepandemic focus on international clientele to a predominantly domestic market. It is targeting an 80 percent local buyer base.
This shift aligns with the robust growth of Indonesia’s residential property market, which Mordor Intelligence projects to expand from US$67 billion last year to US$72 billion this year, and further to an estimated US$105.7 billion by 2029.
Research by Rumah123.com shows that foreign property interests in Indonesia are primarily from Singapore, Hong Kong, the United States, Australia, Malaysia, and Japan. And they prefer landed houses, land and apartments.
“Presently, Bali is undergoing a transformative shift in its property industry, fuelled by the emergence of the neo-luxury trend – a niche market that OXO Living is uniquely positioned to thrive in,” said Weissenbaeck. “Across all our completed property projects, we’ve steadfastly embraced the principles of zero waste, solidifying our expertise in sustainable development.”
Dornier, the architect of the project said that the goal is “to deliver a design that is both understated and emblematic.”
“We aspire to create structures that harmonize with Bali’s natural beauty and cultural heritage, prioritizing materials that are deeply rooted in the island’s identity and utilizing local resources like the readily available bricks from Tabanan and the region’s distinctive volcanic stone,” he added.
He said his design studio and OXO Living shared a green vision. “Our collaboration thrives on a shared commitment to sustainability. We believe in the ethos of ‘building less to create more value,’ ensuring our developments are in harmony with the environment,” he said.
Website: oxoliving.com
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