TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

TROUBLED LOMBOK DEVELOPMENT Dubai Based Emaar Properties Out

Category: Real estate, Posted:09 Feb 2010 | 06:00 am

Back of the petro dollar boom of a few years ago the much publicized venture between the Indonesian Government and Dubai's Emmar Properties has turned the venture into a casuality back of the Middle East financial purge. The once ambitious project covering 1,200 hectares on Bali's neighbor Lombok island was planned as a US$600 millon investment including four hotels with Ritz Carlton and Armani as leading brands, a marina, along with upscale residences.
As a destination resort the key selling point was over 7 kimometers of oceanfront property. Recently the Indonesian Government though its Investment Coordinating Board announced it was seeking a new parter for the project as Emaar had been unable to meet its funding and development commitments to the project. The Government is now sourcing new parties to move the project ahead.
While Emaar has considerable shareholding that includes the Dubai Government, it suffered hard hits by the bankrupcy of a US subsidary residential development company and a high profile issue on alleged insider trading which plunged share prices.

Other News

Read more

Bid Now. Only 8 Days Left For the PHAB Great Travel Auction

Category: Hotels, Posted:04 Jun 2024 | 07:52 am There are only 8 days left to bid on this year’s non-profit Phuket Hotels Association online charity travel auction. Amazing travel stays from London, Australia, Bali, Dubai, Paris, Maldives, and of course Phuket, Bangkok, and Koh Samui. There is even a vacation stay in Bhutan. All of the proceeds go to support the hospitality scholarship […]
Read more

Dusit Ties Up With Layan Verde Phuket Branded Residences

Category: Hotels|Real estate, Posted:26 May 2024 | 16:53 pm Thai hospitality group Dusit International has signed a deal with VillaCarte Group for their upcoming Layan Verde project in Bangtao Phuket. The agreement covers 633 units under two brands – Dusit Residences and a Dusit Collection Hotel. An opening is planned in 2027 with a key highlight being an EDGE environmental certificate. VillaCarte Group has […]
Read more

Koh Samui Gets New Daily Direct Flights From Singapore

Category: Tourism, Posted:14 May 2024 | 09:32 am In a major boost for Koh Samui tourism, Singapore’s Scoot Airlines has commenced daily flights. Currently, there is a daily flight, with a second flight expected to be added in June of this year. Scoot is a subsidiary of Singapore Airlines. The airline is using Embraer E190-E2 aircraft which accommodate 112 passengers on the route. […]
SiaJai logo

Thailand's Leading Homecare Marketplace