Tue, 13 May 2008

Emaar Properties, the Dubai-based property developer with a significant presence in 36 markets globally, has accelerated its development plans for Indonesia with the opening of its country office in Jakarta, Misr Information Services & Trading News reported Thursday.

The office will steer the development of Emaar’s first project in the country, a mega-tourism and mixed use project in Lombok, and also explore new opportunities for growth.

Emaar is one of the first developers from the Middle East and North Africa region to expand into Indonesia.

The Lombok site, to spread over 1,175 hectares, will be an environmentally friendly project that will energize the country’s tourism sector, the report said.

The opening of the office follows a joint venture agreement signed by the Bali Tourism Development Corporation (BTDC) and Emaar in Dubai recently, to undertake the Lombok project

Planning for the $600 million development was scheduled to begin in April.

The master-planned community is set on the Kuta and Tanjung beaches and will integrate natural elements into a residential, leisure and hospitality zone.