The thesis
A delivered, fully-operational resort complex within walking distance of one of Bukit’s best-rated beaches. The rarity here is operational completeness: most Bukit inventory at this price point is off-plan or half-finished. Already-trading product removes a layer of risk.
Positioning
This is a stable-yield / capital-appreciation play, not a premium-rental play. The 30–40% two-year appreciation headline is developer-projected; our read suggests 12–20% is the defensible range if the Bukit-wide absorption story holds.
Legal structure notes
Leasehold – confirm the remaining term and whether the master lease permits assignment without developer consent. Bukit leaseholds assembled in the late 2010s are now trading at a discount to their 2022 peak on shorter remaining terms.
Yield modelling
Rental yield figures not disclosed at this unit scale. Underwrite on 7–10% net at the current Bukit apartment mid-tier ADR band.
What is included
- Restaurants, spa, yoga centre on-site
- Supermarket and boutique retail
- On-site international school
- 500 m walk to Melasti Beach
Risk factors
- Leasehold remaining-term compression
- Density risk – if the complex is part of a much larger block, supply pressure on ADR
- School and retail amenity durability – commercial operations may not persist at launch quality
- Foreign ownership path – apartments on leasehold require specific structuring for foreign investors