DENPASAR, 20 May 2008 - An article in Nusa Bali has spotlighted growing concerns that a tourism mega-project on the nearby island of Lombok, currently being developed by the Bali Tourism Development Corporation (BTDC), may represent strong future competition to Bali. Located in the southern part of the island, the Lombok project is being financed by an U.A.E. company, Emaar Properties at an estimated project cost of 400 million euro.

Emaar Properties’ commitment to developing business links in Indonesia is evidenced by the recent opening of a representative office in Jakarta, established to help the U.A.E. investors identify wider business opportunities in Indonesia. At an opening ceremony of the Jakarta office, the Chairman of Emaar Properties, Mohamed Ali Alabbar, told the press: “the representative Emaar Properties office in Jakarta will allow our company to identify new growth opportunities in Indonesia. It will also ensure that our Lombok project stays on schedule and realize its potential to become a tourism destination like Bali.”

The Lombok Project will cover an area of 1,175 hectares located on Lombok’s Kuta Beach and consume a stretch of 17 kilometers of beach front. The project will include a marina, luxury private accommodation and 5-star resorts.

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. The office will steer the development of Emaar’s first project in the country, the 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, an emerging market with strong growth potential, especially in the tourism sector. The Lombok site, to spread over 1,175 hectares, will be an environmentally friendly project that will energise the country’s tourism sector.
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