Pasaka Rievan Smith successfully assisted its long-standing client in the hospitality and diving resort sector in the execution of a further amendment to the Conditional Sale and Purchase Agreement (PPJB) for a strategic land transaction located in North Minahasa, North Sulawesi, one of Indonesia's Super Priority Tourism Destinations.

The amendment expanded the transaction from approximately 4.4 hectares to approximately 14.2 hectares of beachfront land. Our team ensured that the amendment comprehensively addressed various legal and practical issues arising from the previous PPJB, including several delays in the land certification process at BPN.

We advised on the overall transaction involving the landowners and the relevant parties responsible for the land certification process, ensuring that the transaction was carried out with legal certainty, commercial balance, and practical efficiency. We expect the overall completion process to be finalized prior to the end of the third quarter of this year.

The team was led by our Partner, Ishak Ricardo Pasaka, with the assistance of our Associates, Onma Ezra Rodi Aprilo and Atina Putri Indira.

This engagement highlights PRS's capability in handling complex land transactions and strategic investment projects beyond Java, including transactions involving multiple local stakeholders and local communities.