Emaar Properties, the Dubai-based Public Joint Stock Company and one of the world`s largest real estate companies, will in October 2008 realize its investment worth Rp7.5 trillion for the first five-year phase, in West Nusa Tenggara (NTB) Province.NTB Governor Lalu Serinata said here on Friday that Emaar would develop a tourism project on a 1,250-ha plot of land previously owned by Lombok Tourism Development Corporation (LTDC) in Central Lombok.
For the first stage, Emaar planned to construct a hotel and a golf course on 450 hectares of land.
The NTB administration has committed to Emaar`s requests for a clean water facility which could supply 30,000 m3 per day, and a three lane road to the city`s international airport.
Emaar has pledged to invest more than Rp20 trillion in total over 15 years period in tourism sector in NTB.
The Lombok mega-tourism and mixed-use project is planned to be conducted based on a joint venture agreement signed by Emaar Properties PJSC and The Bali Tourism Development Corporation (BTDC), a key partner assisting the Indonesian government in infrastructure building, in Dubai last March.
The flagship Lombok project is envisaged as a world-class residential and resort community, which will be environment-friendly and integrate residential, leisure and hospitality zones.
source: Antara | July 2008
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