In Indonesia, the Wadi Nature Reserve, a nature reserve with more than 100 islands, is about to be auctioned. Currently uninhabited, this nature reserve is known for its white sand beaches, rainforest and abundant marine life. The auction includes development rights to transform the reserve into a luxury resort.
The Vidi Nature Reserve is a nature reserve and an archipelago of more than 100 tropical islands. According to online listings, the reserve will be auctioned by Sotheby's. Auctions will open on December 8, 2022.
Although no expected starting price has been announced, according to the listing information, interested buyers will need to submit a deposit of $100,000 to qualify for the auction.
The reserve is currently uninhabited and has no permanent population, although it is occasionally visited by residents and tourists from land villages. According to the auction information, the acquisition of development rights allowed the construction of a private jet runway into the reserve. It takes about 2 hours and 30 minutes to the reserve from Bali, 3 hours and 45 minutes from Singapore, and 4 hours and 30 minutes from Hong Kong.
Located in the Coral Triangle, this protected area is an area of the western Pacific Ocean known for its corals and marine life. According to the World Conservation Organization, there are more than 600 species of corals in the region. The Wadi Nature Reserve can be considered "one of the most biologically and ecologically significant places on earth" as it is home to hundreds of rare and endangered species, including blue whales, whale sharks, leatherback turtles and giant squid. Meanwhile, the reserve's rainforest is home to wildlife herds such as parrots, kingfishers and falcons, as well as rare plants that have never been officially recorded before.
The Wadi Nature Reserve was established as a marine protected area in 2020 and its rainforest has been designated as a highly protected area. As the reserve is considered a national asset of Indonesia, it belongs to the Indonesian people in a legal sense. Currently, the investment firm PT. Leadership Islands Indonesia has exclusive development and management rights. The company has been fighting to develop some of these islands into luxury resorts and residences, which will be included in this auction sale. Although Indonesian law generally does not allow private ownership of the island, shares in a business with development rights can be sold to anyone.
Future plans could include about 50 eco-residential areas, each with 1-8 holiday homes, and a total of 500 rooms on 17 islands, with a focus on protecting the environment. And several areas within the nature reserve have been identified as "off-limits" for tourists.