Author : Suzanne
Dubai-based Emaar Properties said yesterday it has provided recommendations on how it intends to proceed with development of the Mandalika, a $600 million (Dh2.2bn) mixed-use project in Indonesia.
In a statement to the Dubai Financial Market, the developer said it was waiting for responses from the Bali Tourism Development Corporation (BTDC) and Indonesian Government.
"We have submitted an expression of interest to the BTDC in accordance with the tendering procedure recently launched by the government of Indonesia for the Mandalika development in Lombok," the company added.
"We will continue to seek growth opportunities in sustainable global markets and Indonesia represents a target growth country," the statement added.
On Monday, an Arabic newspaper had quoted an Indonesian government official as saying that Emaar had pulled out of the project.
Officials in the Investment Office of Jakarta could not be reached for comment.
In June 2009, the Indonesian Government extended the joint venture between Emaar Indonesia and PT Pengembangan Pariwisata Bali (Persero), a government entity, to develop Lombok project by six months.
In April 2007, Emaar said the Lombok project, which will cover 1200 hectares, will be set at the pristine Mandalika Beach and will be an environmentally-friendly development that integrates natural elements into a residential, leisure and hospitality zone.
Source : Emirates Business 24|7
