Kinnara Capital Limited and PT Kinnara Capital Indonesia · 2024–today
Kinnara Capital: the development business behind Saraya in West Lombok
After years of marketing other people's projects, the Kinnara founders set up a company to build their own. It started with the land, and with the paperwork.
What it is
Kinnara Capital is a property investment and development business focused on Southeast Asia, beginning with Lombok. It was set up in 2024 by the founders of the Kinnara marketplace to develop projects of their own rather than market other people's. Adrian Campbell is its CEO. It develops residential, hospitality and mixed-use property, invests in land, forms joint ventures with landowners and advises international groups entering Indonesia.
The companies
| Company | What it does |
|---|---|
| Kinnara Capital Limited, Hong Kong | Head company of the development business |
| PT Kinnara Capital Indonesia | Licensed foreign-investment (PMA) developer; sells individually titled villas |
| PT Saraya Resort Lombok | Project company for Saraya, holding owners' management agreements |
The team works from Balikpapan in Indonesia and Phuket in Thailand, with a site office in Buwun Mas, Sekotong. Alongside Adrian are Julie Noorman, co-founder and COO, Nattaya Intarachooti, Chief Property Officer, and Jaques Z. Marbun, who leads government relations in Indonesia.
Why Lombok
Lombok sits directly east of Bali with the same beaches and a fraction of the development. Visitor arrivals to the province rose 47 per cent in 2025 to more than 2.38 million. Government money has gone into the Mandalika Special Economic Zone and its MotoGP circuit, and new direct flights connect the island with Perth, Darwin and Singapore. Kinnara Capital's view is that Lombok today is where Bali was 20 years ago. The Lombok page has the detail.
Land first, then everything else
Much of Lombok's coastal land has been in families for generations, often without modern certificates. Kinnara Capital buys only after ownership has been confirmed through the courts and the BPN land office, and holds powers of attorney so that certificates move directly into the company's name once issued. Its land in Buwun Mas has been assembled one parcel at a time. Six adjoining plots, already settled, hold the company's staff housing and site office.
For an Australian buyer this is the point that matters most. The reason so many foreign property stories in Indonesia end badly is that the title was never clean. The process is described in Sekotong and Buwun Mas, and the terms in the glossary.
Projects
Saraya Beach Resort & Residences, Sekotong. The flagship: 154 beachfront villas in six designs from one to four bedrooms, with two restaurants, a beach club, a spa and a gym, run as a single international hotel rental pool. Designed by KRAM Space Architect of Thailand; TSG Construction Indonesia appointed as contractor. Full page: Saraya.
The Elysian display villa, Mandalika. A finished villa showing the specification Saraya buyers receive. Building it exposed weaknesses in some local steel, concrete and electrical components, and the company upgraded the specification for every Saraya villa as a result.
Pipeline. Amara Beach Club, a Labuan Bajo Gateway mixed-use project and a Sumbawa eco-resort, all in planning.
How it runs a project
Kinnara Capital manages design, pricing and procurement across a Thai architect, a Chinese-Indonesian contractor and Indonesian suppliers. It does this through shared cost models: bills of quantities and furniture schedules for each villa type, converted between renminbi, rupiah and Australian dollars. The resort's rental pool is designed to collect revenue centrally and pay owners automatically, so the hotel operator deals with one counterparty rather than 154.
How foreigners own a Kinnara Capital villa
A buyer can own through an Indonesian PT PMA company holding a building right (HGB), which runs for an initial 30 years and can be extended by 20 and renewed for 30. Or a buyer can take a leasehold for a fixed term. Every villa is individually titled. Payments are staged against construction milestones, or paid up front for a discount. Independent legal advice is essential; the Lombok guide for Australians explains the terms.
Kinnara Capital in the press
Forbes Australia covered the launch of Saraya in April 2026, and ACCESS Newswire carried the announcement. Kinnara Capital publishes its own articles on Lombok, flights, Belongas Bay marina and Mandalika on kinnara.capital. See press.
Kinnara Capital and Kinnara
Kinnara Capital develops property. Kinnara markets it, under contract, as it does for any developer. They share substantially the same shareholders, and neither company owns the other. Kinnara Capital's land in Buwun Mas has nothing to do with Marina Bay City, a separate project Kinnara once marketed; see the statement.