THE AGUNG FUND
The Agung Fund is a Singapore-based investment vehicle acquiring high-potential land assets in North Bali via its Indonesian partner, Black Sand Group.
Investment Thesis
The Agung Fund is a land-focused investment strategy designed to capture long-term value appreciation in high-potential Indonesian regions, while offering investors a structured, capped return and disciplined downside protection.
North Bali is entering a transformative growth phase supported by Indonesia’s long-term economic vision and rising regional demand. The region offers a rare combination of undervalued land, expanding tourism, and large-scale infrastructure momentum.
5 years
Land banking strategy
4 to 6 times
Target appreciation
30,000 US$
Minimum investment
1,000,000 US$
Fund target size
Sustainable development & reef protection angle
5% allocated to
Preferred shares with priority on capital repayment and returns
Capped preferred return of 15% IRR (pre-tax)
Capital locked for a 5-year investment horizon
Returns distributed before any upside allocation to the holding company
Defined profit split after preferred return: 25% investors / 75% HoldCo
No exposure to construction, rental, or operational risk
Land-only strategy with a single exit event
Clear, transparent structure with no leverage at asset level
Investor Position
North vs South Bali Land Comparison
The information presented is based on research and insights from the Bali Business Club, a collective of seasoned professionals with 20+ years of operational experience in Bali’s real estate sector.
Target Areas
Our investment focus is concentrated on three high-potential regions of North Bali, each offering strong appreciation prospects and unique strategic advantages.
AMED
A rapidly developing coastal destination known for its diving, boutique hotels, and rising popularity among long-stay tourists. Amed offers strong land appreciation potential due to limited coastal availability and growing demand for premium, low-density tourism experiences.
An emerging investment corridor anchored by Bali’s most iconic dive sites, including the USAT Liberty wreck. Tulamben benefits from ongoing infrastructure upgrades, increasing investor interest, and availability of strategically located plots ideal for boutique resorts, wellness retreats, and eco-friendly developments.
TULAMBEN
A larger coastal region with long-term strategic value, offering expansive land opportunities suitable for master-planned developments. Lovina attracts a different demographic—families, retirees, and wellness travelers—making it ideal for hospitality projects, branded villas, and long-term land banking.
LOVINA
Fund Structure
The Agung Fund is designed as a simple, transparent, and investor-first land investment vehicle.
The structure has been intentionally built to minimize complexity, reduce tax leakage, and separate ownership from operations, allowing investors to focus on one objective: long-term land value appreciation.
Receives capital from investors
Oversees asset strategy, holding period, and exit
Acquires and holds Indonesian land leases directly
Distributes proceeds to investors according to the investment terms
Singapore Pte. Ltd.
The Agung Fund
Black Sand Group
Sources land opportunities
Conducts local due diligence
Manages negotiations and structuring
Oversees legal, administrative, and on-ground execution