‘Pent-up demand’ for travel among Singaporeans will benefit tourism and hospitality, says firm’s assistant vice-president of sales
TUAN Sing Holdings has launched the first phase of Opus Bay, its township project in Batam, Indonesia.
Spanning 125 hectares at the southern part of Batam, Opus Bay is expected to contain residential, retail, entertainment, and healthcare facilities, allowing it to become a “fully integrated” tourism and hospitality destination.
The whole project will be launched in several phases over the coming 10 to 15 years, said the property development company.
In this first phase, Tuan Sing is selling units from one of its three apartment blocks which rise 30, 40, and 60 stories high. The 40-story central block launched for sale contains 559 units in total, 381 of which are available for purchase.
They are made up of studio, one-bedroom, and two-bedroom apartments ranging from 36 square meters(sq m) to 122sq m, priced from S$80,000 to S$240,000.
Buyers will also have the option of a leaseback deal of up to 10 years.
Another housing option is Opus Bay’s three-bedroom, four-bedroom, and six-bedroom villas, totalling at 277 houses. Designed for “resort living” or as a “holiday home”, each villa maximises natural ventilation while maintaining privacy of the residents. They also come with individual pools, which are customisable at a buyer’s request.
During phase one, Tuan Sing will be selling a total of 51 villas comprising the three and four-bedroom houses.
The villas are priced from S$330,000 to S$950,000, with installment options as well. A number of the villas have also been bought during the pre-sale period.
According to Francis Ngiam, assistant vice-president of sales at Tuan Sing, the phase one units are expected to be completed in 2023, which is very apt as he hopes travel will resume by then.
He believes that there is a “pent-up demand” for travel among Singaporeans which will benefit Opus Bay.
Mr. Ngiam forsees the villas to attract mostly Singaporean buyers, while the apartments units would see a good mix of Singaporean and Indonesian buyers, the latter from Jakarta and nearby cities as well.
To drive traffic, Tuan Sing is currently developing show flats in Singapore, which will be completed in the summer this year.
It also partners Mitra Adiperkasa, one of Indonesia’s largest retail companies with a diversified portfolio of brands including Starbucks, Zara, Marks & Spencer and SOGO, to provide shopping destinations for visitors.
Opus Bay will see its factory outlet completed by October 2022.
In his welcome speech during the launch, Mr Ngiam mentioned that Batam is seeing many infrastructural developments, including a seven-km bridge linking the city to Bintan, which Tuan Sing wants to “ride on”.
He is hopeful that the city will continue to see large developments in the near future. To contribute to this, Tuan Sing is also refurbishing Batam’s Waterfront Ferry Terminal, which is just a stone’s throw away from Opus Bay.
About Opus Bay
Opus Bay is located 5-minute away from the Waterfront Ferry Terminal and minute-walk from the community surrounded by apartments, villas, amenities, facilities and the exclusive Club House only for members.