Saturday, 24 July 2010
Emaar, Indonesia part ways on Lombok project - Emirates24|7
The Indonesian government has terminated all commitments with Emaar Properties on a mega-tourism project in Lombok, West Nusa Tenggara after the Dubai-based developer failed to meet its share of the bargain in developing the project, according to a media report.
According to Jakarta Post, the Indonesian government will reissue a tender for the mega resort project to foreign investors two of whom are from Abu Dhabi and Ras Al Khaimah.
"Four investors, from Abu Dhabi, Qatar, India and Ras Al Khaimah are interested in the project," Chairman of the Indonesian Investment Coordinating Board (BKPM) Gita Wirjawan told the newspaper.
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