Persistence, Transparency, and Vision: The Formula of Nicolas Cheneve
Behind every successful business stands, above all, a singular soul. It is the alchemy of energy, discipline, and persistence - the union of vision and will - that ultimately determines whether a venture ascends to greatness or fades into obscurity. A striking example of this truth is Nicolas Cheneve, today among the most accomplished and visionary developers of luxury villas in Bali.
We met in a café in Nice, one of his favorite places in the south of France. Working primarily with French investors, Nicolas has shown through his own journey how something that began almost par hasard - “by chance” - evolved into a structured and highly profitable investment business.
We begin our conversation with what seems to me the most essential: mission. Every successful entrepreneur eventually reaches the realization that “I am capable of doing something greater; what I create must carry a meaning beyond profit.” Building homes is not merely a technical or commercial process. It is, in its essence, an art of living - one that demands human presence, energy, and care from the person guiding the company.
Nicolas is personally involved in every project, overseeing each phase with the devotion of a master artisan, as attentively as a hotelier who welcomes and farewells every guest. His most profound contribution to Bali lies not only in the hundreds of villas delivered, but also in the thousands of local livelihoods fostered, the elevated standards and training introduced, and even the free homes built for families in need.
At the other end of this cycle, his work brings joy and inspiration to travelers who stay in villas designed and built by his team - spaces where they can rest, recharge, and experience the beauty of Bali. For Nicolas, however, this comes at the price of relentless dedication, a near 24-hour rhythm in which he sustains an ecosystem linking investors, local communities, and global travelers.
What does Nicolas himself tell us about Bali - and about his projects?
iPremium: Nicolas, you arrived in Bali almost by chance. How did this journey begin, and what do you see as the secret of your success?
Nicolas Cheneve (N.C.): I came to the island in early 2018, with little more than a dream. The early years were tough - language barriers, unreliable local partners, a different legal and cultural framework. But we stayed focused, insisted on our vision, and through perseverance we built a company that today has delivered more than 700 villas. The biggest lesson? Transparency. When mistakes happened - for example, miscalculations on project pricing - we absorbed the cost ourselves rather than passing it on to clients. That created trust, and trust is what made the difference.
iPremium: Who are your investors, and what drives them to Bali?
N.C.: About 90% of our investors are French - not only residents of France, but also expats in Singapore, Hong Kong, and Dubai. Almost all come for investment, not personal use: out of 700 houses, only two were built for families who wanted to live on the island. Why Bali? Lifestyle, international appeal, and rental yields that outperform Europe. But increasingly, what convinces them is our track record. They trust Magnitude Construction as much as they trust the island itself.
iPremium: What kind of returns can investors expect today?
N.C.: Yields have compressed compared to our early years. Today, realistically, we see 10–14% depending on the villa’s finish, location, and management costs. Management fees on the island range between 12 and 25%. We usually advise investors to entrust both rental management and services to one entity - that way the property is seen holistically, and client needs are better addressed.
iPremium: Leasehold is often a concern for foreign investors. How do you address it?
N.C.: Europeans are used to freehold ownership, so leasehold feels counterintuitive. But it’s a matter of pragmatism: would you rather hold 100 years at 2% or 30 years at 10%? The math speaks for itself. That said, it is possible to own land in Indonesia through a PT PMA - a foreign investment company. It’s more expensive, but you gain security and resale value without relying on a local nominee.
iPremium: Where do you see the market heading in the next three years?
N.C.: The market has slowed somewhat, partly because so many foreign developers entered post-Covid, increasing supply. But infrastructure upgrades are on the horizon: a new airport in the north, and a subway line from the main airport to key hubs. These could trigger a new wave of tourism and demand. Long term, I remain optimistic - Bali remains unique.
iPremium: Magnitude is expanding to Morocco. Why there?
N.C.: Many of our investors who trusted us in Bali are now following us to Marrakech. The model is the same - private villas, strong rental yields, cultural appeal. Morocco is at an earlier stage of its cycle, and we see great potential there.
iPremium: What sets Magnitude apart from other developers?
N.C.: Persistence and transparency. We never hid problems, and we always honored commitments, even at our own cost. That reputation has been amplified by media coverage in Indonesia, which helped us grow faster. Today, we also work differently: instead of directly employing workers, we subcontract with carefully vetted partners under airtight contracts, backed by legal and banking guarantees.
iPremium: On a personal level, what values drive you?
N.C.: Let’s be honest - we all work to earn money. When I left for Bali, I wanted a different lifestyle, but also saw the financial potential. Seven years later, I can say I was right: with persistence, hard work, and clarity of vision, one can achieve extraordinary results here. But beyond profit, my core values are honesty and resilience. Success is never a straight line; it’s about getting up every time you fall.
iPremium: Outside of business, what inspires you?
N.C.: Formula 1, football, and travel. F1 especially mirrors entrepreneurship: discipline, speed of decision-making, teamwork, and relentless improvement. These are the same qualities that define Magnitude Construction.
iPremium: What advice could you give to a young entrepreneur standing at the starting line of their own journey.
N.C.: Perseverance. Too many young people believe that with social media everything is easy, that you can become a millionaire overnight. But it’s not true. The path to success is full of obstacles. You must learn to rise each time you fall, to question yourself constantly, and to keep moving forward. That is the key.
In these words lies not only the philosophy of Nicolas Cheneve, but also the essence of his work: persistence, honesty, and the courage to build something that endures.