The developer will invest US$15 million (RM48 million) on renovations, upgrades and constructions (including additional villas) to the resort. The five-star resort is situated in Tulamben Village in the Karangasem Regency, about 82km from Denpasar in Bali, Indonesia.
Virtual Peaks's core business are construction, property and hotel development, highway concession and power development.
“I am confident with the project and that we, as Malaysians, will be proud of it. The resort is still currently running, although on a small scale. Our target is the niche market -- the corporate market as well as those from Europe and US,” Virtual Peaks executive chairman Datuk Hashimuddin Datuk Abdul Kadir said during the press conference.
There are two phases to the resort, with a total of 48 villas, with a listed room rate from US$350 per night. Room types comprise of cottages, villas and a private suite.
He added that the resort would be the first in Bali to offer Halal meals and be Muslim-friendly.
This development is the company’s first venture into international boutique hotel development and management, and would be operated through its wholly owned hotel management company Amanda International.
He revealed that the group may be interested in taking on two additional resorts in Bali by the beaches in Nusa Dua and Seminyak, and a decision would be made within the next few months.
Virtual Peaks currently has two projects in Kuantan and Bali, which have a combined worth of RM100 million.
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