Is Canggu worth investing in?

I moved to Canggu in 2004.  I stayed in a small villa complex in Padang Linjong.  In those days there wasn’t even a warung in the street, and the only place where we could find anything was down at Echo Beach, which in those days was indeed “far away in time.”

I later moved to a place along the main road of Batu Bolong for a few years and was offered to rent a plot of 1,000-square metres with a house for 30-million a year, if I paid 10-years in advance.  I didn’t do the deal.  Today a small corner of that place with a 2-storey building rents for between 200-300-million a year.

 What went wrong?

I mean developments yes, but today there are 2-300-restaurants in the area, tons of entertainment spots, and hundreds and hundreds of villas.  A few larger resorts have also opened up; first was LV8, then COMO and now a massive development set to be an Intercon when completed.  Life is on from early (fairly early) breakfasts to late at night, it never seems to end. 

So, the place has changed; from a time when it was just a few crazy surfers to today and the most popular hipster, digital nomad location on planet earth.

Where will it go? 

We thought it had reached a peak in 2014, but it’s still going, and the culture it created is spreading inland, further west, and into other areas such as the Bukit and Jimbaran.

Is this good for Bali? 

Personally I believe so. There are elements and incidents that aren’t so good, but in general this market wants what’s good for it, the locals and the island. 

The challenge for us as real estate agents and consultants is that it’s difficult to measure the volume of visitors, room rates, and per person spending in restaurants etc. 

What does an average hipster spend during a stay?  Where is the market going? Will it continue?  What’s going to happen?

For an investor it’s hard to decided with little facts. It’s best is to see and feel Canggu and its vibe.  We do see more and more investors looking in the area, and it continues further up the coast in Tabanan, where soon MNC will launch a new Tanah Lot project.  Ciputra is already there and it’s rumored one more large plot in Kedunggu will soon see some serious developments as well.

We, at Seven Stones Indonesia certainly believe in Canggu, Pererenan, Seseh and further up the west coast. Give us a call or send us an email if you want to have a chat about it if you’re either considering investing, or selling.

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Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

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Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.