Emaar Properties in resort proposal to Indonesian government

Baltimore News.Net
Wednesday 10th March, 2010

Gulf company, Emaar Properties, has announced it will restart discussions with the Indonesian government on a project that was postponed during the economic crisis.

Emaar’s plans for an Indonesia waterfront resort worth US$600 million are due to get underway soon, with a resort proposal to be submitted to Bali’s tourism authority.

The Gulf’s largest property developer had initial talks with the Indonesians in 2007 on a development for Lombok Island, which is next door to Bali and administered by its authorities.

Emaar will run the project with Pengembangan Pariwisata Bali, an Indonesian government-backed company as long as equity sharing and land acquisition can be agreed upon.

The development will include residential villas, hotels, shopping facilities and golf courses.

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