Emaar Properties Must Go Through Selection Process

Tempo Interactive, Wednesday, 17 March, 2010 | 16:53 WIB

TEMPO Interactive, Jakarta: Emaar Properties, a company owned by the Dubai Kingdom from the United Arab Emirates, must still undergo the selection process along with other potential investors in developing Putri Mandalika Resort, in the southern coast of Central Lombok, West Nusa Tenggara (NTB).

The same policy was stressed by NTB Investment Agency chief, Yakoub Abidin, in response to Emaar’s wish, as reported by Reuters. “The Mandalika project is open to everyone,” Yakoub said last week.

As reported by Reuters on Wednesday last week, the Emaar management was waiting for the Indonesian government’s response, represented by the Bali Tourism Development Corporation. "Indonesia is representing our company’s growth target,” said Emaar management.

Earlier, Emaar won the tender for the 1.250-hectare integrated tourism area project. However, the investment valued at US$ 600 million expired in July last year following Emaar’s financial troubles.

According to Yakoub, four other foreign investors have expressed their interest in the tourism area. They are from India, Tunisia, and other parts of Asia.

SUPRIYANTHO KHAFID