31-7-2023 (DILI) Timor-Leste is witnessing a surge in investments from Singapore-owned businesses, with millions of dollars being poured into the country’s leisure and hospitality sectors. Among the notable investments are five-star hotels, serviced apartments, and an entertainment center, making these ventures some of the largest in the nation’s history.
One of the prominent projects is the Pelican Paradise Resort, a luxurious five-star hotel situated in a massive mixed-use township development spanning an impressive 556 hectares, equivalent to over 1,000 football fields. With stunning views of the Timor Sea, the hotel’s initial phase alone amounts to approximately US$500 million. Designed to attract tourists seeking an exotic holiday destination, the resort will offer around 300 rooms, 10 beachfront villas, specialty dining outlets, a 1,000-seat ballroom, and a 50-meter infinity lap pool.
The visionary behind the Pelican Paradise Group, property developer Edward Ong, first visited Timor-Leste in 2006 as a church missionary and saw the nation’s immense potential for growth. Given his background in construction and developments, Dr. Ong believed that building a hotel could contribute to Timor’s positive transformation. Samuel Ong, the director of operations at Pelican Paradise, highlighted the potential benefits for Timor-Leste, including meeting requirements for ASEAN membership, such as hosting regional bloc meetings in its convention center and providing ample hotel rooms.
Singaporean businesses see Timor-Leste as an attractive investment destination due to its stunning natural beauty, including idyllic beaches, turquoise waters, and rugged mountains. Moreover, Singapore is poised to open an embassy in Timor-Leste’s capital, Dili, which will mark a significant milestone in bilateral relations and enhance cooperation opportunities between the two nations, considering Timor-Leste’s population of over 1.3 million.
Investors also appreciate Timor-Leste’s investor-friendly policies and political stability. They recognize the potential of the local workforce and have made efforts to hire and upskill local constructors for various large-scale projects. A-Smart Holdings, a Singaporean-owned company with interests in print manufacturing, smart technologies, real estate, and investment, is actively involved in constructing two buildings comprising residential and retail lots. The firm’s CEO, Lim Huan Chiang, lauded the country’s youthful dynamism and hardworking, educated population, emphasizing the advantage of early movers in this emerging market.
For Timor-Leste, these tourism developments play a crucial role in diversifying its economy, which is currently heavily reliant on oil and gas, constituting 70% of its GDP. To further diversify the economy, plans are underway to transform Timor-Leste into a regional shipping hub. The newly operational Tibar Bay Port, built and operated by French conglomerate Bollore Group, serves as the country’s primary port for container ships, with plans to expand its capacity for greater economic diversification.
