Estonians Building Luxury Development with Over 100 Homes in Bali

Estonian entrepreneurs' real estate development firms Investland Bali and Avalon Asia are building a luxury real estate development Element Residence on Bali for 12 million dollars with 107 apartments and lofts, which is the largest Estonian investment in Asia's real estate sector in history.

According to Investland Bali partner Kristjan Ploompuu, they have been collaborating with Avalon Asia director Ahti Kiili, who has extensive real estate development experience, for about a decade, and they started the current project together more than a year ago. "We purchased a plot with the best possible location in the popular Bali Canggu resort area last year with 5000 square meters of ocean views. The design phase has been completed, the construction tender is underway, and we have already begun groundwork," said Ploompuu.

According to Avalon Asia director Ahti Kiili, the development will be completed in three years, during which seven buildings will be constructed in stages. "With almost 10,000 square meters of net floor space, this is one of the largest developments in South Bali. It will include 107 apartments and lofts according to European building standards, a rooftop café, underground parking, a gym, and approximately 120 square meters of public outdoor pools. The area's best cafes, restaurants, gyms, and clubs are within walking distance and the windows offer panoramic ocean views," said Kiili.

"The project name Element Residence contains four themes: earth, air, fire, and water, which are reflected in both the interior design and the exterior appearance and details, including such features as large water walls and handcrafted stone lighting fixtures and details," added Kristjan Ploompuu.

"The complex's architectural solution was created by ESA Architects, which has designed several important landmarks and five-star resorts on Bali. Special emphasis is placed on landscaping, which will be tropically lush with 50 different species of trees and plants. We also use environmentally friendly and handcrafted materials," said Kiili.

According to the development's partner Kristjan Ploompuu, the residential units for sale range from 40-square-meter studio apartments, which together with all design furniture and interior design cost 140,000 dollars, to 150-square-meter two-level loft-type apartments with large terraces and penthouses.

"Element Residence is also aimed at Estonian buyers, but on a larger scale, it is an international project. For example, there is already significant interest from Dubai investors. Demand for real estate and vacation apartments is growing rapidly on Bali and the season is year-round, which is why a predicted annual net rental yield of 10-14% is achievable," said Ploompuu.

"We see every day, living here ourselves, what great potential the Bali real estate sector has, and that is why, in addition to this project, we are planning several other residential developments as well as commercial buildings," added Ploompuu.