Insider Says Kinnara Denies Allegations Over Marina Bay City Buyout and Digital Assets
LOMBOK, INDONESIA — November 12, 2025 —
An insider close to Kinnara has stated that the real estate technology platform is strongly denying allegations that it has refused to hand over digital assets connected to the multi-billion-dollar Marina Bay City project in Lombok, Indonesia, following its recent buyout by Lux Properties for an undisclosed sum.
According to the insider, Kinnara has already agreed to hand over control of both the http://marinabaycity.com/ website and the Marina Bay Lombok Facebook page to the new Marina Bay City management team and is in the process of completing that transfer.
“Kinnara says any claims that it is refusing to hand over these assets or continuing to use them to mislead or divert potential buyers are completely false,” the insider revealed.
“The company insists it’s cooperating in good faith to ensure a smooth transition.”
Rumors had circulated that Kinnara was still using Marina Bay-branded online assets to attract investor leads and redirect them into nearby competing developments — allegations the company has reportedly dismissed as “unfounded and defamatory.”
The same source confirmed that Kinnara has no plans to use the millions received from the Marina Bay City buyout to acquire land or begin new property developments that might compete directly with Marina Bay City.
“Kinnara has said that would be unethical and could even border on fraudulent behavior,” the insider added.
“They’ve made it clear they intend to stay within their lane as an IT-based real estate platform, not a developer.”
Kinnara, which initially entered the Marina Bay City venture through its property marketing platform, has now fully exited the project and is reportedly focused once again on expanding its digital real estate services across Indonesia and Southeast Asia.
The insider noted that Kinnara’s leadership believes continuing to engage in property development would undermine the company’s core business model and credibility.
“They’ve compared it to platforms like http://realestate.com.au/, http://domain.com.au/ — saying it would be absurd for them to compete against their own advertisers,” the insider said.
“They want to protect their reputation and avoid any conflict of interest.”