South Korean hotel chain to transform Estonian developer's Bali project into luxury resort

South Korean hotel chain Sono Hotels & Resorts Asia has signed an operating agreement with Estonian developer Investland Bali. The deal will convert the $30 million Element Residence project in Bali into a five-star luxury resort.

South Korean hospitality giant Sono Hotels & Resorts Asia has entered into an operating agreement with Estonian development company Investland Bali, marking a significant step for Estonian investment in Southeast Asia.

Under the terms of the deal, Investland Bali's Element Residence project — valued at over 30 million US dollars — will be transformed into a luxury resort meeting five-star standards. Sono Hotels & Resorts Asia currently manages nearly 15,000 hotel rooms and apartments across its portfolio.

The partnership brings together Estonian real estate development expertise with one of South Korea's established hospitality operators, signalling growing international interest in premium tourism infrastructure on the Indonesian island of Bali.

The Element Residence project represents one of the more ambitious Estonian-backed overseas real estate ventures in recent years, and the agreement with a major Asian hotel operator is expected to significantly boost the development's profile and appeal to international investors and guests alike.