Jakarta, December 20, 2024 – PT MNC Land Tbk (IDX: KPIG) and PT Bumi Indah Prima (PT BIP) have reached an agreement for the sale and purchase of land assets at MNC Bali Resort, located in Tanah Lot, Tabanan, Bali, with a total transaction consideration of around Rp5.5 trillion. The transaction is targeted to close in January 2025. KPIG's land assets are planned to be utilized for a Transit-Oriented Development (TOD) area as part of the Bali Urban Rail and Associated Development (Bali Subway) Project. The transaction reflects MNC Land's commitment to supporting the acceleration of transportation and regional infrastructure development in Bali.

 

Fully supported by the Bali Provincial Government, the TOD project will be carried out in four construction phases, connecting I Gusti Ngurah Rai Airport with various key tourist destinations across Bali. TOD is an urban planning concept that integrates the modernization of transportation systems, particularly through the development of an underground transit system. This transaction marks a pivotal step in advancing modern infrastructure in Bali, with the Bali Subway Project anticipated to provide an innovative transportation solution and bolster Bali’s economic sustainability as a premier international tourism destination.