Australian Developers Launch $6 Billion Smart City in Lombok
Two visionary Australian developers, Jamie McIntyre, founder of Australian National Review and long-time
Lombok, June 23, 2025 -- Two visionary Australian developers, Jamie McIntyre, founder of Australian National Review and long-time advocate for independent media and international investment, and his business partner Adrian Campbell, have officially launched one of Southeast Asia's most ambitious development projects: a $6 billion smart city known as Marina Bay City, now under construction on the island of Lombok, Indonesia - Bali's lesser-known but fast-rising neighbor.
Dubbed the 'next Dubai meets Bali', Marina Bay City is a master-planned development spanning luxury villas, beach resorts, private hospitals, wellness centers, digital nomad hubs, education precincts, and a marina lifestyle precinct - all aimed at one rapidly growing market: Western expats looking to escape increasing restrictions, surveillance, and cost-of-living pressures back home.
From Vision to Billions
McIntyre and Campbell have taken the bold approach of creating billions in real estate value before even completing construction. Through strategic land banking, private equity fundraising, and the power of master-planned city design, the duo has successfully acquired and rezoned hundreds of hectares of prime oceanfront land, transforming raw beachfront and hillside terrain into a globally marketed smart city that's now gaining momentum among early investors.
According to early valuation reports and investor presentations, the project - once fully built - is expected to exceed $6 billion in total developed value, with projected revenues from villa sales, commercial leasing, tourism, and healthcare services. With land already appreciating sharply in Lombok due to the spillover from Bali's tourism saturation, McIntyre and Campbell's early-mover advantage is already paying off.
'We're creating wealth from raw dirt and big vision,' says McIntyre. 'It's what great developers do. We didn't wait for governments or corporations - we saw a global trend and built the solution: a safe, free, vibrant city for people seeking a better lifestyle and more freedom.'
Why Lombok, and Why Now?
As Bali reaches its limits in terms of land availability and congestion, Lombok - just a short 20-minute flight away - is emerging as Indonesia's next property boom hub. The Indonesian government has already designated it a national tourism development priority, pouring billions into international airport expansion, roads, and energy infrastructure. Add to that white-sand beaches, dramatic coastlines, and growing demand from Australians, Europeans, and Americans - and Lombok is becoming the new frontier.
Marina Bay City is strategically positioned on Lombok's picturesque southern coastline, minutes from the Mandalika MotoGP circuit and surrounded by untouched surf beaches and reef-lined bays.
A City for the Future - And the Freedom-Minded
Unlike traditional developments focused only on tourism, Marina Bay City has a deeper mission: to serve as a haven for freedom-seeking Westerners, particularly from Australia, where many feel increasingly disillusioned by the direction of political and economic policy post-pandemic.
'There's a silent exodus happening,' says Adrian Campbell. 'We're building not just real estate - we're building a new life for thousands of people who want safety, beauty, opportunity, and freedom. Marina Bay City is the first of its kind - a privately built, community-led smart city for expats and locals alike.'
The Billionaire BlueprintIn less than three years, McIntyre and Campbell have effectively created billions in paper wealth through savvy land deals, innovative financing, and early adoption of global digital marketing. They're following the proven model of Dubai's success - where private developers created entire cities from desert - but applying it to a tropical, freedom-oriented lifestyle.
Their company is also exploring tokenized real estate investments, sustainable infrastructure, and digital residency programs - making Marina Bay City a model of modern, decentralized, community-first development.
With construction already underway and hundreds of villas now in planning or early sales phases, the
duo's status as self-made billionaires is rapidly solidifying - not just on paper, but in bricks, mortar, and
visionary execution.
For more information or to explore investment or residency options in Marina Bay City, visit
www.MarinaBayCity.com
Marina Bay City: Where Vision Meets Paradise.
Contact Info:
Name: Cherine Deleroulle
Email: Send Email
Organization: Marina Bay City
Website: https://marinabaycity.com/
Release ID: 89162780
In the event of any inaccuracies, problems, or queries arising from the content shared in this press release, we encourage you to notify us immediately at [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our diligent team will be readily available to respond and take swift action within 8 hours to rectify any identified issues or assist with removal requests. Ensuring the provision of high-quality and precise information is paramount to us.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
43 minutes ago
- Forbes
Opportunity Zones 2.0: Could The Second Time Be The Charm?
The "One, Big, Beautiful Bill" Act (Photo by) When Opportunity Zones 1.0 was created in 2017, it was with the hope of channelling investments to low-income communities, to create jobs, new housing supply and provide gap financing for startups and small businesses. But anecdotes and reports suggest that this initiative did not live up to expectations. Now, with OZ 2.0 on the horizon, the One Big Beautiful Bill Act presents an opportunity to correct the loopholes in the first iteration, ensuring that investment funds go to the places that need them the most. Ahmed Whitt, director of the Center for Wealth Equity at Living Cities, says, Opportunity Zones 2.0 shouldn't just be about tax cuts. Rather, 'the true measure of success should focus on improved outcomes for local residents, not merely capital flows or rising property values.' Throwback To Opportunity Zones 1.0 OZ 1.0, as a tax incentive, allowed investors to defer payment of capital gains to 2027 if the gain amount is invested in a Qualified Opportunity Fund, and a 10% tax reduction if the QOF investment is held for at least five years. In addition, if an investor holds on to the QOF investment for at least ten years, profit made outside the initial gain is tax-free as long as it's not sold until the end of 2047. In a recent interview, Whitt says that it is estimated that in 2023, the OZ program generated more than $100 billion. But this did not translate into clear community wins as much of this investment was directed toward higher-value real estate projects, resulting in limited benefits for low-income communities. A 2022 study puts it in proper perspective: 'Anecdotal evidence from the first three years suggests that extremely wealthy individuals and corporate investors are the beneficiaries. Anecdotes point to luxury hotels and apartments, parking lots, storage facilities, luxury student housing in census tracts next to major universities, and mostly projects long in the works or ready to go before the OZ capital gain tax break existed.' Whitt adds that because reporting was voluntary and inconsistent, we still lack clear data on the amount of money that flowed into particular Opportunity Zones, especially in terms of the number of jobs created and the number of projects that were sustainable beyond initial investments. That said, he points to the Erie Downtown Development Corporation's innovation district as one of the 'strongest models' that shows how, with the right partnerships and accountability measures, Opportunity Zones can drive inclusive, long-term community development. The Erie Innovation District secured $100 million in private capital, and involved collaboration among large employers, small businesses, and community-based capital allocators. So far, the corporation has completed seven out of 12 projects, including a culinary arts district, laying the groundwork for what has become a burgeoning tech corridor. The Kresge Foundation is another example, deploying $22 million in investments in two impact fund managers, providing risk mitigation and first-loss protection for the Opportunity Zones funds. The seed capital attracted an additional $80 million, which was invested in affordable housing, broadband expansion, and manufacturing projects in underserved cities. What's On The Table For Opportunity Zones 2.0? Congress is debating the 'Renewal and Enhancement of Opportunity Zones' included in the One Big Beautiful Bill, as OZ 1.0 incentives are set to expire at the end of 2026. In the Bill passed by the House of Representatives, lawmakers seek to extend the program to 2033, empowering governors to add additional tracks, with at least 33 percent of these tracks being rural; It also allows individuals to invest as little as $10,000 into QOFs, keeps the 10% tax basis boost for 5-year investments, and 30% for qualified rural opportunity funds. The Bill proposes new reporting requirements to address the fundamental challenge with OZ 1.0. QOFs will now be required to provide certain details about every investment, including the applicable NAICS classification code, the estimated number of housing units in real estate projects and the average headcount of full-time employees at supported businesses. Failure to comply can lead to penalties. The Senate has also proposed a number of amendments, some of which undo the proposals put forward by the House, chief among them, making Opportunity Zones a permanent program, and allowing governors to reopen the window to nominate new tracts every ten years. The Senate Bill shifts the OZ 2.0 designation window to July 1, 2026, removing the $10,000 carve-out proposed by the House and the 33 percent requirement definition of eligible tracts. But the enhanced rural basis boost and mandatory transparency requirements remain intact, with $15 million provided to the IRS to support reporting. Neither version of the Bill contains incentives to drive affordable and workforce housing, although it is envisaged that this will be discussed at a later time. The requirement for reporting transparency is perhaps the most significant proposed reform to the OZ initiative, as this shift will give communities and investors the data they need to see who's really benefiting from the tax cuts. Although Whitt is less optimistic about the federal government's ability to enforce these measures, he is hopeful that at the provincial and local levels, and with the involvement of diverse investors, they could develop 'unique approaches to data collection that could have a high potential in OZ 2.0 if it becomes permanent.' Four years ago, Aaron Seybert, managing director of social investments at The Kresge Foundation, stated: 'We need full transparency into OZ, we need some level of local accountability for the capital invested, and we need better evidence that the tool can deliver against community needs at scale. Without these, I don't think the incentive should continue to exist at all.' Democratizing Investor Access OZ 2.0 is looking to address the challenges with the first iteration—but will it be successful? Whitt says, 'Despite OZ 1.0 needing some improvement, I think it's one of the strongest federally backed interventions we've seen in decades in terms of its potential to positively impact local communities.' However, for him, equity is the key to making the most of this program. He explains that to take advantage of the opportunities afforded by OZ 2.0, there is a need to 'democratize' investor access by encouraging the participation of smaller investors and nonprofits, who currently can't benefit under the program because they don't generate taxable capital gains. Whitt encourages corporations to co-invest with mission-aligned funds and community development financial institutions. 'The more incentive we have for community-based capital allocators, and community or regional groups to partner with corporations, that's where we will see more opportunities for corporations to have positive community and population impacts, and innovations in the types of investments that we see,' he says. By doing so, and partnering with local nonprofits and advisory boards, they can ensure that projects meet the needs of the communities and help shift the focus from primarily real estate to a more diverse portfolio. He emphasizes that community involvement can also enhance accountability: 'If we have more community voice, we could think about designing projects that have a catalytic impact on other businesses, the schools in the area, even the environmental impacts, and that's sometimes lost when only corporations can benefit.' Lastly, Whitt encourages corporations and local stakeholders to 'track key indicators' like employment, income, and demographic changes in OZ neighbourhoods, which will enable investors to re-strategize if necessary, so that capital flows to where it is most needed. As congress works to reconcile these approaches ahead of the president's aspirational deadline of July 4 for the Bill to pass; investors and communities are waiting for a final OZ 2.0 package that will not just be another tax break, but an opportunity to realize the goal of transforming capital gains into tangible social benefits for underserved communities.
Bloomberg
44 minutes ago
- Bloomberg
Saylor's Strategy Resumes Using Common Shares to Buy Bitcoin
Michael Saylor's Strategy is using common shares again to help finance the crypto treasury firm's purchases of Bitcoin following criticism of the practice by renowned short-seller Jim Chanos. The company formerly known as MicroStrategy Inc. said Monday it acquired $531.9 million of Bitcoin in the seven days ended June 29. It was the first now-almost-weekly purchase announcement since May that noted that the company sold common shares through an at-the-market sales program to fund the buying. It also sold two classes of preferred stock, the Tysons Corner, Virginia-based Strategy said in a US Securities and Exchange Commission filling. It owns about $64 billion in Bitcoin.
Yahoo
an hour ago
- Yahoo
Veritone Announces Equity Offering of $10 Million Backed by CEO
CEO Ryan Steelberg Invests $1 million in common stock The aggregate proceeds of $10 million will be used to fuel strategic growth DENVER, June 30, 2025--(BUSINESS WIRE)--Veritone, Inc. (NASDAQ: VERI) ("Veritone" or the "Company"), a leader in building human-centered enterprise AI solutions, today announced that it has entered into a definitive agreement providing for the purchase and sale of an aggregate of 6,452,293 shares of common stock and pre-funded warrants to purchase up to 1,804,587 shares of its common stock at a purchase price of $1.09 per share (or $1.08 for each pre-funded warrant) in a registered direct offering. The pre-funded warrants have an exercise price of $0.01 and are immediately exercisable, subject to certain limitations. The closing of the registered direct offering is expected to occur on or about July 2, 2025, subject to the satisfaction of customary closing conditions. Esousa Group Holdings, LLC, an existing investor, led the offering with a $6 million investment in common stock and pre-funded warrants. D. Boral Capital LLC acted as placement agent in the registered direct offering for certain investors. Additionally, in a concurrent private placement transaction, the Company has issued shares of common stock to its Chief Executive Officer, Ryan Steelberg, for aggregate gross proceeds of $1 million at a price per share equal to the greater of the consolidated closing bid price of Veritone common stock on June 27, 2025, or $1.41 per share, and the consolidated closing bid price of Veritone common stock on the date that is two full trading days after the date on which Veritone's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 is filed. The aggregate gross proceeds to the Company from the offerings are expected to be approximately $10 million, before deducting offering expenses payable by the Company. The Company intends to use the net proceeds from the offerings, together with its existing cash and cash equivalents, for working capital and general corporate purposes including, but not limited to, capital expenditures, debt service, repayment of indebtedness and other business opportunities and to further develop and market its AI platform and applications. The securities being offered in the registered direct offering described above are being offered and sold by the Company in a registered direct offering pursuant to a "shelf" registration statement on Form S-3 (File No. 333-280148) that was originally filed with the Securities and Exchange Commission (the "SEC") on June 12, 2024, and that became effective on June 21, 2024. The offering of the securities in the registered direct offering is being made only by means of a base prospectus and prospectus supplement that forms a part of the effective registration statement. A final prospectus supplement and the accompanying base prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC's website at Electronic copies of the final prospectus supplement and the accompanying base prospectus, when available, may also be obtained, when available, from the Company at 1615 Platte Street, 2nd Floor, Denver, Colorado, by phone at (888) 507-1737 or e-mail at investors@ The shares of common stock being offered in the private placement were offered and sold by the Company in a transaction not involving a public offering under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act") and/or Rule 506(b) of Regulation D promulgated thereunder and have not been registered under the Securities Act or applicable state securities laws. Accordingly, the shares of common stock may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Veritone Veritone (NASDAQ: VERI) builds human-centered enterprise AI solutions. Serving customers in the media, entertainment, public sector and talent acquisition industries, Veritone's software and services empower individuals at the world's largest and most recognizable brands to run more efficiently, accelerate decision making and increase profitability. Veritone's leading enterprise AI platform, aiWARE™, orchestrates an ever-growing ecosystem of machine learning models, transforming data sources into actionable intelligence. By blending human expertise with AI technology, Veritone advances human potential to help organizations solve problems and achieve more than ever before, enhancing lives everywhere. To learn more, visit Safe Harbor Statement This news release contains forward-looking statements, including without limitation, statements regarding our expectations regarding the completion and timing of the offering, the satisfaction of customary closing conditions related to the offering the proceeds that we expect to receive from the offering and the intended use of proceeds from the offering. In addition, words such as "may," "will," "expect," "believe," "anticipate," "intend," "plan," "outlook," "should," "could," "estimate," "confident" or "continue" or the plural, negative or other variations thereof or comparable terminology are intended to identify forward-looking statements, and any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements speak only as of the date hereof, and are based on management's current assumptions, expectations, beliefs and information. As such, our actual results could differ materially and adversely from those expressed in any forward-looking statement as a result of various factors. Important factors that could cause such differences include, among other things: our ability to continue as a going concern, including our ability to service our debt obligations as they come due over the next twelve months and beyond; our ability to expand our aiWARE SaaS business; declines or limited growth in the market for AI-based software applications and concerns over the use of AI that may hinder the adoption of AI technologies; our requirements for additional capital and liquidity to support our operations, our business growth, service our debt obligations and refinance maturing debt obligations, and the availability of such capital on acceptable terms, if at all; our reliance upon a limited number of key customers for a significant portion of our revenue, including declines in key customers' usage of our products and other offerings; our ability to realize the intended benefits of our acquisitions, sales, divestitures, and other existing or planned cost-saving measures, including the sale of our full-service advertising agency, Veritone One, and our ability to successfully integrate our acquisition of Broadbean; our identification of existing material weaknesses in our internal control over financial reporting and plans for remediation; fluctuations in our results over time; the impact of seasonality on our business; our ability to manage our growth, including through acquisitions and expansion into international markets; our ability to enhance our existing products and introduce new products that achieve market acceptance and keep pace with technological developments; actions by our competitors, partners and others that may block us from using third party technologies in our aiWARE platform, offering it for free to the public or making it cost prohibitive to continue to incorporate such technologies into our platform; interruptions, performance problems or security issues with our technology and infrastructure, or that of third parties with whom we work; the impact of continuing economic disruption caused by macroeconomic and geopolitical factors, including the Russia-Ukraine conflict, the Israel-Hamas war and conflict in the surrounding regions, financial instability, inflation and the responses by central banking authorities to control inflation, monetary supply shifts, high interest rates, the imposition of tariffs and other global trade disputes, and the threat of recession in the United States and around the world on our business operations and those of our existing and potential customers; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Certain of these judgments and risks are discussed in more detail in our most recently-filed Annual Report on Form 10-K, and our Quarterly Reports on Form 10-Q and other periodic reports filed from time to time with the Securities and Exchange Commission. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives or plans will be achieved. The forward-looking statements contained herein reflect our beliefs, estimates and predictions as of the date hereof, and we undertake no obligation to revise or update the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events for any reason, except as required by law. View source version on Contacts Company: Mike ZemetraChief Financial OfficerVeritone, Investor Relations: Cate GoldsmithProsek Partners914-815-7678cgoldsmith@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
