$600m Lombok Mega-Resort Tender Results Slated for May
The nation’s Investment Coordinating Board confirmed to journalists on Tuesday that tender results for the long-delayed $600 million resort project in Lombok would be released in May.
“We now have a total candidate of five candidates, and Emaar [Properties] is still one of them,” Gita Wirjawan, chairman of the investment authority also known as the BKPM, said after returning from a trip to cultivate potential partners in Dubai, Doha and India. “Construction for the project is due to start in the second half of this year.”
Unveiled in May 2007, the Lombok project envisioned a 1,200-hectare resort that would transform south Lombok’s beachfront into a world-class attraction to be run by Emaar and the Bali Tourism Development Corp. However, the government has been seeking new investors after years-long negotiations with Emaar failed because the Dubai-based developer missed a deadline at the end of 2009 to commit. JG
“We now have a total candidate of five candidates, and Emaar [Properties] is still one of them,” Gita Wirjawan, chairman of the investment authority also known as the BKPM, said after returning from a trip to cultivate potential partners in Dubai, Doha and India. “Construction for the project is due to start in the second half of this year.”
Unveiled in May 2007, the Lombok project envisioned a 1,200-hectare resort that would transform south Lombok’s beachfront into a world-class attraction to be run by Emaar and the Bali Tourism Development Corp. However, the government has been seeking new investors after years-long negotiations with Emaar failed because the Dubai-based developer missed a deadline at the end of 2009 to commit. JG