Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · The US$ 600 Million Question
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Jln. By Pass Ida Bagus Mantra,
Jln. Pucuk 1 No. 70X
Denpasar, Bali
Indonesia

24h:
+62 (0)812 3819724
Tel:
+62 (0)361 464 032, +62 (0)361 471 0242

Bali Discovery

SITE PATA ASITA
Bali News

The US$ 600 Million Question

Confusion Reigns Over Status of Emaar Mega Tourism Project in Lombok.


Bali News: Lombok, Emaar, BKPM
Click Image to Enlarge

(7/31/2010)

A fair degree of confusion prevails over the future of a US$600 mega tourism project on Bali's near neighbor of Lombok.

A pet project of Indonesia's former Vice-President Jusuf Kalla, the 1,200 hectare site was proposed to house hotels, condominiums and a golf course financed by Dubai-based property Developer Emaar Properties. The project Ė hailed by its champions as having the potential to create a popular destination in Indonesia for travelers from the Middle East - provided the impetus for the massive investment in a new international airport nearing completion in Lombok.

The future of the Emaar Project became doubtful last year when the Dubai investors called for changes in land ownership rules. These objections from Dubai, whether real or posed, were put forth at a time when the Dubai property bubble was bursting, causing some quarters to conjecture that Emaar was no longer in a financial position to carry through with its original commitment for Lombok.

Countering this view, Emaar recently declared that the idle project is still on track. As reported by the Jakarta Globe, the Dubai property company has issued a statement declaring it has made a "total commitment" to its Indonesian partner, the Bali Tourism Development Corporation (BTDC). 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.

Recently the chairman of the Indonesian foreign Investment Coordinating Board (BKPM), Gita Wirjawan, signaled interest in reviving the long-stalled Lombok project has come from Abu Dhabi, Qatar, the United Arab Emirates and India.

A spokesman for Emaar is insisting that the company "has strong financial fundamentals and will undertake all strategic projects across its key markets."

Adding to the confusion, the Indonesian Ambassador to the United Arab Emirates, Mohammad Supriyadi, issued a statement last March stating that Emaar had abandoned the project.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Expect No Warning
Indonesiaís Early Warning Tsunami Buoys Network Donít Work
(12/17/2017)
Waiters on the Water
Bali Stages a Waitersí Fun Run on Kuta Beach
(12/17/2017)
Anggun Sasmi: Making Bali Center Stage
Indonesian Singing Sensation Anggun C. Sasmi Boldly Stands with Bali
(12/17/2017)
From Ashes to Taxes
Bali Accommodation Owners Seek Tax Relief and Delayin Minimum Wage Hikes Until Mount Agung Volcanic Activity Subsides
(12/17/2017)
Americans in Bali at No Threat from Mount Agung Volcano
U.S. State Department Security Personnel Discuss Safety for U.S. Citizens at Baliís Police Headquarters
(12/17/2017)
Gas Consumption Dips in Bali
Fuel Consumption in Bali Down 20% Due to Mount Agung Business Slowdown
(12/17/2017)
Purchasing the Right-of-Way on the Highway
Landowners on Jalan Bypass Ngurah Rai at KFC-Pizza Hut Intersection in Jimbaran, Bali Reject Compensation Offered for Land Needed to Widen Highway
(12/17/2017)
Getting the Facts Strait
Foreign Legations in Bali Ask to Help Inform the World that Bali is Safe and Visitors are Not at Risk if Mount Agung Undergoes Large Eruption
(12/17/2017)
Lingering Problem of Baliís Mount Agung
Tourism Official Claim Negative Impact of Mount Agung Volcano Worse than 2002 Bali Bombing
(12/17/2017)
Leak of Fate
German Woman Falls 80-meters to Her Death from Cliffs at Suluban Beach, Pecatu, Bali
(12/17/2017)
Putting Baksheesh in the Backseat
Bali Airport Custom and Excise Office Re-declares its Intention to Eliminate Corruption
(12/17/2017)
Bali Via its Northernmost Sea Port
Singapore Super-Ship Makes Baliís Celukan Bawang a Weekly Port of Call Through
(12/17/2017)
All [News]!