Vice president calls for immediate land clearance in Lombok

Seems Antara is not the only one being given envelopes to write gushing endorsements of the planned transformation of Lombok's pleasant southern beach into a playground for the rich.

Lombok lifted by Emaar project
Article from the Internet by Denis Gilfeather
July - 2007
Twenty years ago astute developers were snapping up prime real estate in Lombok, which was then being hailed as the new Bali. Situated just east of the ‘Island of Gods’ and separated by the Lombok Straits, which marks the dividing line between the Australasian and Indomalayan eco-zones, Lombok has better beaches than Bali, bigger surf breaks, a bigger volcano and more varied landscapes. So why is it that two decades later, land prices remain the same? But more importantly, why is all that about to change?

Religious tensions flared in January 2000, when three days of rioting and the subsequent media coverage combined to decimate tourism numbers. Investors fled and never came back [Arse!]. Lombok may have missed out on tourist dollars over the years but it has also saved its integrity by not ending up, like parts of its big sister Bali, as a silly overpriced variation on the global theme park, complete with Vegas-style hotels, Padi dive shops and junk food.

Lombok boasts an international airport with direct flights from Singapore and Kuala Lumpur. Pristine beaches ring the island and many, particularly in the southeast, remain untouched. Snorkeling, diving and surfing can be world-class, and new sites are being discovered all the time. Now, here’s the rub.

Emaar Properties, the Dubai-based real estate giant, is set to launch a life-changing development for the residents of Lombok. The UAE-based global property developer has expanded its presence to Southeast Asia with an exciting 1,200-hectare project, set on the pristine Mandalika Beach, that will cost an estimated US$600 million.

In the presence of Indonesian Vice-President, His Excellency Jusuf Kalla, Emaar Properties Chairman Mohamed Ali Alabbar signed a Memorandum of Understanding (MoU) with Muhammad Syahrial, President Director, Perusahaan Pengelola Aset (PPA), the state-owned Asset Management Company.

“Indonesia is our 16th global market and the Lombok development will scale up our property portfolio to a wider Southeast Asian region,” Alabbar said. “The Lombok project also marks our consolidation of the property development roster by having world-class developments in emerging markets with high growth potential.”

He added: “Lombok is one of the most promising tourism destinations in Indonesia and has the potential to be a magnet for world travellers. We are thankful to the Indonesian Government for their trust in us to support their development initiatives that will help position Lombok on a par with Bali as a world-class tourism destination.”

Emaar’s Lombok project promises to be an environmentally-friendly development that integrates natural elements into a residential, leisure and hospitality zone. Eco-friendly measures will be adapted for the Lombok project to ensure that residents can enjoy the advantages of living in tune with nature. The development will boast a 7km natural waterfront, which will support a marina as well as luxury residences and resorts by five-star hospitality chains.

It’s welcoming news that Indonesia is preparing to throw off its ‘sick man of Asia’ mantle and heralding the return of foreign investors. Indonesian Property Studies Chief Analyst Mr Simanungkalit was quoted as saying: “The time is right to give access to more foreign firms, which could contribute US$10 billion of investment over the next five years.”

With international companies like Emaar leading the way, and government incentives to ease foreign investment and visa restrictions, Indonesia might hopefully take its rightful place among the other booming economies in Asia as a stable, solid trustworthy location for foreign investment.