Estonians Launched a New Real Estate Office at Bali Business and Tourism Center
Estonian entrepreneurs launched a real estate company called Pellago on the Indonesian island of Bali, which primarily deals with the mediation and management of local real estate for Estonians.
According to Kevin Sooaluste, co-founder of the company, the team initially consists of ten people, and among the investors is the Estonian-owned Investland Group, which operates six major development projects and a construction company in Indonesia. "Since every developer's projects don't always suit every client, the real estate office deals with both its own developments and other real estate mediation and management throughout Bali," said Sooaluste and added that the real estate office's office was opened in Canggu, one of Bali's most popular areas, in the Canggu Shortcut business and tourism hub.
"Currently, Pellago's portfolio includes over 200 real estate properties and we are constantly looking for additional brokers and managers. Local real estate offices tend to operate quite hectically, but for us and especially for foreign clients, European standards and simply having everything work properly are important. More and more Estonians are looking for real estate on Bali for living or investing, and until now there hasn't been a single real estate office that would advise people in their own language and based on the legislation and cultural context. In addition to the Estonian market, we are also dealing with international expansion – already our consultants speak five languages and we are looking for representatives for, for example, Australian and British markets," said Sooaluste.
"In addition to mediation, Pellago's second main direction is real estate management. If someone has property on Bali that they want to rent out, a high occupancy rate is important and the property needs to be in good condition and well-maintained. On Bali, tourism season is year-round and good occupancy should be at least 80% and property returns should be at least 10%," said Sooaluste.
According to Investland's partner Kristjan Ploompuu, with the launch of Pellago, one group now has all the business infrastructure under its roof, which offers all real estate services from land purchase consultation, development management and construction to management and, if desired, also sales.
Pellago real estate office is part of the Investland Bali group, which deals with real estate management, sales, construction and development on Bali.
Photos from Pellago's opening: from left Kevin Sooaluste, Investland Bali founder Oliver Heliste, Pellago co-founder Vincent Lambin, Investland Bali co-founder Kristjan Ploompuu
