Petitenget, pronunced puh (as in pervert)–tee (as in tea)–teng (as in written)–and ed (as in dirt) is the name of area north of Seminyak that connects it to the three way forks. One leads to Berawa, one leads to Umalas and the last one to Kerobokan area. This page at Expedia offers a short historical background of the naming of the area.
1. Its Rapid Growth
Thanks to its strategic advantages, in the past 5 years, Petitenget has developed so much into a full blown party scenes. Many of Bali most favorite hangouts situated in this area. Just name it, Ku De Ta, Potatohead, Woo Bar at the W, Mint, Hu’u Bar and the new breakfast/lunch/dinner joint aptly named… Petitenget. As a result, the area score the most rapid increase in terms of real estate price in Bali.
For tourists, a visit to Petitenget area is a must. There, you can enjoy the sunset at Woo Bar or Potatohead, sipping your cherry vodka martini, or cold Bintang before continuing to other places mentioned above as the night wears on.
For expats, well, what can I say, you probably visit the places every night, right?
2. Investment Suitability of The Area
Investing in the area, therefore, can be quite expensive. Freehold lands are scarce, and the price has exceeded the range of IDR 1.5-2 Billion per 100 m2 unit called are (pronunced arra). Leasehold properties, either land only or with buildings, are seldom leased on price below IDR 12 Million/are/year, and those number excludes any expense you’re going to need to run your business later.
As expensive as it is, the interest for the area remain high. Some hotels are in development process in Petitenget, with some even nearing completion. All those hotels will bring in more visitors to the area who definitely needs business that caters to their needs. Consider this as your opening to “get in” if you have a plan to do so.
3. The Future for Petitenget
All of that growth, development and festivities have nothing to do with government plans. It’s purely market-driven growth, started into frenzy the day Potatohead and Semara Spa opened for business. Amazingly, despite the growth, the business turnover rate in the area is also high. Meaning: you need a lot more than money to survive in the area, and even more to have a profitable, thriving business. As in other places, tactics and strategies are needed to make your business stands out from the crowd. Theme up your place, mix it up a bit, use a niche so outrageous yet simple that no one ever thinking of: a bar with an apartment/villa/home settings–to create that homy, intimate vibe and impression seldom found in the usual crowded one–that people can rent to host their private party.
Without creativity, Petitenget will become another place with expensive real estate and tasteless party spots akin of those of Legian.