The ongoing story surrounding PARQ Ubud appears to be heading toward a happy ending — at least from the outside. Following recent news of a change in management at the so-called “Russian village,” came confirmation that Andre Frey has been released by Balinese police. The German businessman, who was accused of violating land use regulations, spent 55 days behind bars. His release has been seen by many investors as a major step toward resolving the complex situation surrounding the PARQ Development projects.
“We received the news in private investor chats. Everyone is happy and congratulating each other! The critics who were stirring up trouble have gone quiet,” shared one investor. “Now we’re just waiting for the projects to be unfrozen and the paperwork finalized.”
When asked whether investors are currently communicating with Frey’s original team or the newly appointed manager Solonin’s team, the investor replied:
“We haven’t had any contact with the new team yet. Only the old team is in touch. As far as I understand, Frey plans to fully return to business and continue all the projects. In fact, I live at PARQ, and I haven’t seen a single person from the new management — all the original staff are still here.”
According to sources within PARQ, the criminal case against Andre Frey has been closed, and the authorities have no further claims against him. However, Balinese officials have yet to issue any public statement on the matter.
Just hours after his release, Frey reportedly held a brief video call with investors, during which he said:
“I’m alive and well, guys. Give me a couple of days to recover and be with my family. Then I promise to dive back into work. But as you can see, our team has stayed active even without me. Everything will be fine!”
You can add one right now!