Emaar: Coming or going in Lombok?
The future of a US$600 mega tourism project in Lombok remains under a cloud.
The 1,200-hectare resort and golf course project was championed by Indonesia’s former vice-president Jusuf Kalla and financed by Dubai-based property developer Emaar Properties.
The project – targeting travellers from the Middle East – provided the impetus for the massive investment in a new international airport nearing completion in Lombok.
Bali Update (www.balidiscovery.com) reported this week that the future of the Emaar project became doubtful last year when the Dubai investors called for changes in land ownership rules.
Countering this view, Emaar recently declared that the idle project is still on track, declaring it has made a “total commitment” to its Indonesian partner, the Bali Tourism Development Corporation.
The statement from Emaar was made apparently to forestall a threat by the Indonesian government to re-tender the project and find a replacement investor.
Ian Jarrett
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