Dubai-based Emaar plans to invest more than Rp20 trillion (Dh8 billion) in total over a 15-year period in the tourism sector of an Indonesian province, according to a media report.Emaar will develop a tourism project on a 1,250-hectare plot of land previously owned by Lombok Tourism Development Corporation in Central Lombok. It has also pledged to invest more than Rp20trn in total over 15 years period in tourism sector in West Nusa Tenggara (NTB) province," NTB Governor Lalu Serinata was quoted as saying by Antara News Agency.
In May, the company had opened an office in Jakarta which was leading its efforts at identifying new growth opportunities in the country and ensuring the on-schedule delivery of the project.
The Dh2.2 billion Lombok project will be an environmentally friendly project, which will energise the tourism sector. Master planning for the development has already begun. Besides, the project will have more than 17 kilometres of natural waterfront, which will support a marina, apart from luxury residences and resorts by five-star hospitality chains.
"With our development plans for Indonesia, Emaar is consolidating its geographic expansion in Asia," Chairman Mohamed Ali Alabbar had said in a statement. According to Serinata, the NTB administration has committed to Emaar 's requests for a clean water facility, which could supply 30,000 cubic metres per day and a three-lane road to the city's international airport.
Emaar's expansion to Indonesia is in line with its Vision 2010 to become one of the most valuable companies in the world through geographic expansion and business segmentation.
The company has a growing presence in Asia.
Lombok project, which will be spread over 1,1250 hectares, will have natural waterfront and support a marina
By Parag Deulgaonkar
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