Congratulations to both LABS Group and Gravity Hotel Indonesia for the signing of a remarkable agreement involving a land and building acquisition in the beautiful Banyuwangi, Indonesia. The project is remarked as the world’s first-ever community-owned resort!

The project will be developed as a luxury glamping resort that will be opened by the end of 2021.

AFFA Intellectual Property Rights – Indonesia & Timor Leste, representing and advising both parties relating to the structuring, compliances, due diligence, drafting, as well as negotiation of the transaction documents.

We sincerely hope that this transaction will contribute to the development of Indonesia’s tourism sector. It is in all of our best interest to see the industry grow and we hope this is the much-needed catalyst to reignite the spirit that we all need during this pandemic.

The deal has attracted media coverage, among others:

https://lnkd.in/gutmf8p

#NFT #internationalrealestate #indonesia #tourism #intellectualproperty