Batam’s Sold-Out Eco-Resort now a “Haunted Island” on Auction: Funtasy Island

The ambitious Funtasy Island Resort project in Pulau Manis, Batam, touted itself as largest Eco-Theme Park in the world, is now on the auction block for around 20%+ of its original market value.

Here’s what we know about how and why it went silent abruptly after gaining Global and Singaporean trust, love and investment.

Ocean Villa Front at Funtasy Island. Photo: Funtasy Island

Here’s a comprehensive look at its critically acclaimed, award-winning concept and what its unsold luxurious villas could mean for potential Singaporean and international visitors.

Development of Masterplan for Funtasy Island. Photo: Funtasy Island

Situated 3km off Batam, the Funtasy Island Resort was created back in 2011 as part of six small islands collectively known as Pulau Manis.

The resort’s ambitious plans touts (still on its website currently) crystal clear water, coral reefs and thousands of mangrove trees provide the stunning backdrop to marinas, villas, luxury bungalows and hotel accommodation. luxurious over-the-sea villas with dolphins at residents’ doorsteps and other major attractions, targeting primarily the Singaporean market.

Ambitious Plans for Funtasy Island. Photo: Funtasy Island

A Fantastic Launch

The project, officially launched with fervour in May 2015, promised 64 villas built around a dolphin lagoon (even with whale diving as one of its promoted activities). Initially priced at SGD $758,000 per unit, it had a grand launch showcased at the posh One Degree 15 marina at Sentosa, and it intrigued and incited Singaporean buyers to invest enthusiastic.

Whale Diving Activities Were Promoted At Funtasy Island. Photo: Funtasy Island

Sales Success

Then-Director Michael Yong revealed that initial sales “exceeded expectations” with a whopping 70% of the buyers being Singaporean. As of the last tally, a commendable 90% of the units had been sold by mid 2015, amassing SGD $250 million in sales since 2011.

64 Villas Were Built Around a Dolphin Lagoon at Funtasy Island. Photo: Superlive.Id

Repeated Delays Over 7 Years

Despite initial enthusiasm, the projects experienced significant delays. One development, the Corallium Villas, originally set for completion in 2018, had been pushed back, with green building studies being cited as the primary reason for the lag. As of July 2019, the island resort and villas were still being marketed on Funtasy Island’s website for sales, while its social media pages halted updates abruptly in June 2018 with the last posts saying “Coming Soon”.

Read More: Batam: A New Island Base From SGD$750 Monthly Awaits Singaporeans

Ownership Structure

Yong owned 30% of Funtasy Island Development, while Indonesian businessmen Ade Soehari and Luky Winata possessed the remainder. Land ownership regulations in Indonesia mean foreign investors are granted 25-year leases, extendable in 20-year intervals. PT Batam Island Marina has promised lease renewals up to 2112.

View of the Villas at Funtasy Island. Photo: The Straits Times

Dreams and Promises

Beyond the dolphin attraction, the theme park was set to feature an aviary, stingray habitat, and a boat ride through mangrove swamps. A direct ferry service, cutting travel time between Sentosa and the islands to just 20 minutes, was also in the works.

Island Development Plans Were in the Works. Photo: Instagram @funtasy_island

Controversy Over Territorial Claims

Back in 2016, Funtasy Island faced backlash from Indonesian authorities for presenting the islands as part of Singaporean territory in its promotional materials. This map was subsequently revised.

2023 Auctioned With No Buyers

The luxury resort’s current auction price is Rp 559.27 billion for an area covering 272,509 square meters. This is a stark reduction from its July 2020 auction limit price of Rp 950 billion. Interested bidders are required to deposit Rp 251.67 billion by June 22, 2023. The decrease in auction price is likely to attract more potential buyers and rejuvenate this stalled tourism project, which had suffered due to the COVID-19 pandemic.

Aerial View of Defunct Funtasy Island in 2021. Screengrab: YouTube AR FunWorld

Future Vision

Given its strategic location, Funtasy Island has the potential to be a popular tourist destination for both local and international visitors. The resort’s comprehensive offerings, from snorkeling to gourmet experiences, provide a wide array of attractions.

In an international scam detection and complaints website, there were alleged to be at least 200+ buyers who have already tried to take court action against this project with no clear updates on how this will be resolved since their last postings in 2019. As of today, FUNTASY ISLAND DEVELOPMENT PTE. LTD is still in liquidation and their website continues to be live, hosting great content of this beautiful fantasy.

Scam complaints of Funtasy Island From a Review Website in 2018. Screengrab: Complaints Board

The sale and potential revival of the Funtasy Island project could be a win for tourism in the region.

For Singaporeans, this could mean a luxurious getaway just minutes from home.

For international visitors, it’s another compelling reason to extend their Southeast Asian journey to include both Singapore and Batam. However, potential investors and buyers must weigh the maintenance costs and due diligence, especially considering the over-sea constructions.

Funtasy Island Resort, once Indonesia’s most touted Eco Theme Park in Pulau Manis, Batam, is on sale for a drastically reduced price. Despite initial sales success and Singaporean interest, construction delays and territorial controversies have marked its journey.

As it goes under the hammer again, one can only fantasise again if its revival could mean a significant boost to regional tourism, benefitting both Singaporean and international tourists.

Sources: Funtasy Island, WartaSiber, The Straits Times, ComplaintsBoard