Indonesia figured it has too many islands to care about all of them. But instead of letting them be, this Southeast Asia country decided to offer some of them at an upcoming auction organized by Sotheby’s.
According to the listing, Indonesia is putting up bids for an archipelago known as Widi Reserve. Located in the far east of the country, the area contains more than 100 tropical islands that “offer 150 kilometers of powder white sand beaches, thriving coral reefs, and private, deep-sea, nutrient-rich waters.” However, there is a catch.
Since Indonesian law doesn’t allow the islands to be on private property, the winner of the auction will actually receive interest in the company that owns the exclusive development and management rights to the Widi Reserve. The company, PT. Leadership Islands Indonesia (LII) has the rights to build luxury resorts and residency buildings in the area, which are included in the auction.
The buyer will have to abide by the previously agreed plan and will only be able to develop predetermined islands.
“The islands chosen for development were picked not just for their exquisite views and unique features but precisely because they could be developed without disturbing critical habitats,” Sotheby’s spokesperson explained.
The bidding will open on Dec 8, 2022. Interested buyers will have to make a $100,000 deposit to take part in the auction.
