Why Lux Bought Out Kinnara from Marina Bay City, Lombok

Insiders outline the operational, commercial, and approval failures that forced a reset
By Lux Insider sources

The decision by Lux to buy out Kinnara from Marina Bay City was not sudden, insiders say. It followed a prolonged period of under-performance, regulatory setbacks, and mounting concerns that the project could not progress while Kinnara remained part-owner and part of management.

According to multiple Lux insiders, the buyout was driven by four core issues.

1) Promised clients never materialised

Kinnara entered the joint venture on the basis that its platform would deliver a significantly larger volume of buyers than Lux. Insiders say this promise was central to granting Kinnara early operational influence.

That promise failed to materialise. Internal reviews later indicated that less than 15% of total clients originated from Kinnara—despite expectations that it would deliver many times the volume generated by Lux. By contrast, Lux’s own marketing channels were responsible for the overwhelming majority of buyers.

Original Source:
https://businessreviewasia.news/why-lux-bought-out-kinnara-from-marina-bay-city-lombok/