Development of Lhoknga Golf Course And Resort

Tourism

Development of Lhoknga Golf Course And Resort

Property Description

Lhoknga Golf Course & Resort (Seulawah Golf Course/The Tsunami Memorial Golf Course) is located in the District of Aceh Besar, close to popular tourist destination, Lhoknga Beach. The property is 16 KM or about 30 minutes by road from Banda Aceh, the capital of Aceh Province. The property has a total area of 57 hectares, surrounded with white sandy beaches of Lhoknga and Lampuuk on its western side of the property, and hillside view on the eastern side. Lhoknga Golf Course is the only public golf course in Aceh, located at the designated development area for tourism. The Government of Aceh has owned the area since 1997 for the development of a one of the top integrated tourism and golf destinations in Indonesia.

Market Opportunity

According to the Tourism Ministry of Indonesia, Golf has becoming one of the most popular sports among Indonesian in recent years, and is projected to increase and become one of the sectors that help restore post-pandemic tourism. The Golf Course is located at a popular tourism area of Lampuuk - Lhoknga Beach, easily accessible from Banda Aceh. The conditions and structure of the field have unique challenges for golfers, ie:the wind, contours & terrains, surrounded by beaches and hilly mountainside. Current management has expressed a positive trend on visitors during the pandemic. The number new players is increased by 65%, particularly during the pandemic, with physical distancing. FUTURE DEVELOPMENT : GOLF & BEACH RESORT The location of Lhoknga Golf Course is located at the proposed integrated tourism area, known locally as Lampuuk – Lhoknga Beach. THEME PARK Future development of the property might include the development of golf beach resort due to its adjacent location to the white sandy beach of Lampuuk and Lhoknga. GOLF RESIDENCE Other prospected development include the establishment of the first integrated outdoor themepark in Aceh. The availabily of land in the surrounding area is perfect for the development villa residences.

Financial Estimation

Total Estimate:
IDR 117.723.056.794 IRR/NPV/BEP:
NPV = Rp.118,187,770,374 - BCR = 1.3260> 1 - IRR = 26.8367%> MARR 15% - PBP = 11.4730 Years - BEP = 11.3181 Years Financial analysis are calculated by local financial adviser as a preliminary assumptions and does not represen