$600m Lombok Resorts Scrapped

Citing governmental paralysis and hinting that too many officials had their ..." /> $600m Lombok Resorts Scrapped

Citing governmental paralysis and hinting that too many officials had their ...">
$600m Lombok Resorts Scrapped

Citing governmental paralysis and hinting that too many officials had their hands out, Dubai’s state-owned Emaar Properties PJSC has cancelled its massive $600 million property project that was to turn the pristine island of Lombok into another Bali.

“We have closed our office in Jakarta starting Friday,” said Elly Savitri, Emmar Indonesia’s human resources manager. “Emaar has pulled out of its operations in Indonesia because the government cannot comply with the terms of the agreement with our joint venture company.

“There have been too many delays on the realization of the project and the company just could not wait any more.”

Elly also said Emaar had spent Rp 50 billion ($4.2 million) in consultancy fees on master plans.

Winarno Sujas, the Tourism Ministry’s director for businesses and investment, told the Jakarta Globe on Friday that Vice President Jusuf Kalla had summoned the related ministries for a meeting this coming Wednesday in a bid to save the project.

The cancellation of the project — announced with great fanfare in May 2007 by Kalla — is an enormous black eye for the Indonesian government and the local government of Lombok, West Nusa Tenggara Province.

“Indonesia is our 16th global market and the Lombok development will scale up our property portfolio to a wider Southeast Asian region,” Muhammad Ali Al Abbar, Emaar Properties chairman, said at the project signing.

The announcement of the failure of the project follows the recent pullout of the Saudi Binladin Group from a project to invest as much as $4.3 billion in developing rice crops in Merauke, Papua Province.

The joint venture between Emaar and the state-owned Bali Tourism Development Corp. envisioned development of 1,200 hectares along seven kilometers of natural beachfront that would have transformed central Lombok’s Kuta and Tanjung An beaches over the next 12 years into a world-class resort and residential community consisting of 10,000 luxury villas, eight hotels and two 18-hole golf courses.

Emaar’s Elly said the agreement stipulated that the government would provide a detailed master plan by last November to support infrastructure including an international airport, an access road to the property and finalizations of land acquisitions. The finalizations, however, never materialized.

A plethora of government agencies failed to complete their part of the bargain and asked for an extension until this month. When Indonesian officials asked for another extension until June, Emaar called off its investment.

“You understand the Indonesian government,” said an Emaar executive who asked not to be named, in a veiled reference to allegations of corruption in the local and central governments.

Sumaryanto Widayatin, a special adviser to the Public Works Ministry, blamed unprofessionalism for the tangled negotiations.

“I think it’s because the Ministry of Finance was worried about selling the land cheaply to Emaar,” he said, adding that the global economic crisis had also cut into the company’s liquidity.

He said every large project in this country attracted officials who had their hands out.

“Where in Indonesia do we not have the problem of corruption?” he asked.
<span style="font-size: 14pt"><span style="font-weight: bold">$600m Lombok Resorts Scrapped</span></span><br /> <br /> Citing governmental paralysis and hinting that too many officials had their hands out, Dubai&rsquo;s state-owned Emaar Properties PJSC has cancelled its massive $600 million property project that was to turn the pristine island of Lombok into another Bali.<br /> <br /> &ldquo;We have closed our office in Jakarta starting Friday,&rdquo; said Elly Savitri, Emmar Indonesia&rsquo;s human resources manager. &ldquo;Emaar has pulled out of its operations in Indonesia because the government cannot comply with the terms of the agreement with our joint venture company.<br /> <br /> &ldquo;There have been too many delays on the realization of the project and the company just could not wait any more.&rdquo;<br /> <br /> Elly also said Emaar had spent Rp 50 billion ($4.2 million) in consultancy fees on master plans.<br /> <br /> Winarno Sujas, the Tourism Ministry&rsquo;s director for businesses and investment, told the Jakarta Globe on Friday that Vice President Jusuf Kalla had summoned the related ministries for a meeting this coming Wednesday in a bid to save the project.<br /> <br /> The cancellation of the project &mdash; announced with great fanfare in May 2007 by Kalla &mdash; is an enormous black eye for the Indonesian government and the local government of Lombok, West Nusa Tenggara Province.<br /> <br /> &ldquo;Indonesia is our 16th global market and the Lombok development will scale up our property portfolio to a wider Southeast Asian region,&rdquo; Muhammad Ali Al Abbar, Emaar Properties chairman, said at the project signing.<br /> <br /> The announcement of the failure of the project follows the recent pullout of the Saudi Binladin Group from a project to invest as much as $4.3 billion in developing rice crops in Merauke, Papua Province.<br /> <br /> The joint venture between Emaar and the state-owned Bali Tourism Development Corp. envisioned development of 1,200 hectares along seven kilometers of natural beachfront that would have transformed central Lombok&rsquo;s Kuta and Tanjung An beaches over the next 12 years into a world-class resort and residential community consisting of 10,000 luxury villas, eight hotels and two 18-hole golf courses.<br /> <br /> Emaar&rsquo;s Elly said the agreement stipulated that the government would provide a detailed master plan by last November to support infrastructure including an international airport, an access road to the property and finalizations of land acquisitions. The finalizations, however, never materialized.<br /> <br /> A plethora of government agencies failed to complete their part of the bargain and asked for an extension until this month. When Indonesian officials asked for another extension until June, Emaar called off its investment.<br /> <br /> &ldquo;You understand the Indonesian government,&rdquo; said an Emaar executive who asked not to be named, in a veiled reference to allegations of corruption in the local and central governments.<br /> <br /> Sumaryanto Widayatin, a special adviser to the Public Works Ministry, blamed unprofessionalism for the tangled negotiations.<br /> <br /> &ldquo;I think it&rsquo;s because the Ministry of Finance was worried about selling the land cheaply to Emaar,&rdquo; he said, adding that the global economic crisis had also cut into the company&rsquo;s liquidity.<br /> <br /> He said every large project in this country attracted officials who had their hands out.<br /> <br /> &ldquo;Where in Indonesia do we not have the problem of corruption?&rdquo; he asked.
Chinese like more traditional patterns on their ring.
Obviously nothing to do with Dubai's economic meltdown!
Obviously nothing to do with Dubai's economic meltdown!
Menace to Sobriety

"I think it’s because the Ministry of Finance was worried about selling the land cheaply to Emaar" = "You're getting the land for a great price, so cough up the cigarette money for me and my associates"

"Where in Indonesia do we not have the problem of corruption?" = "Fuck it. Everyone does it so let's not fix the problem and we can all line our pockets."

Fucktards.
&quot;I think it&rsquo;s because the Ministry of Finance was worried about selling the land cheaply to Emaar&quot; = &quot;You're getting the land for a great price, so cough up the cigarette money for me and my associates&quot;<br /> <br /> &quot;Where in Indonesia do we not have the problem of corruption?&quot; = &quot;Fuck it. Everyone does it so let's not fix the problem and we can all line our pockets.&quot;<br /> <br /> Fucktards.
I got nothin'.
- - -
Come Hate With Me
http://thehateproject.blogspot.com
Great Headline but had to change it....
Great Headline but had to change it....
Menace to Sobriety

They have plenty of room to play in Puncak, the dirty devils. That was Kalla's idea too.
They have plenty of room to play in Puncak, the dirty devils. That was Kalla's idea too.
"Some people think I've been flogging my own sausage," he joked.
Personally I'm glad as it's the most beautiful unspoilt area which would be ruined by vulgar resorts. That's $600,000,000 the govt. has just pissed up the wall though, all coz they couldn't be arsed to do any actual work.
Personally I'm glad as it's the most beautiful unspoilt area which would be ruined by vulgar resorts. That's $600,000,000 the govt. has just pissed up the wall though, all coz they couldn't be arsed to do any actual work.
Chinese like more traditional patterns on their ring.
I guess it's curtains for that half built airport now...
I guess it's curtains for that half built airport now...
Chinese like more traditional patterns on their ring.
Originally Posted By: Polisi Cepek
They have plenty of room to play in Puncak, the dirty devils. That was Kalla's idea too.


Arab gentlemen were screwing whores in Puncak long before Kalla invited them to the area to buy short-term contract wives to improve the Indonesian gene pool and economy. Dirty devils? At least the women would receive a few million (after the brokers/pimps, village officials and imams take their cuts) and sometimes even a house. Much better than working the streets or being trafficked by fellow Indonesians to Batam brothels.
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Polisi Cepek</div><div class="ubbcode-body">They have plenty of room to play in Puncak, the dirty devils. That was Kalla's idea too. </div></div><br /> <br /> Arab gentlemen were screwing whores in Puncak long before Kalla invited them to the area to buy short-term contract wives to improve the Indonesian gene pool and economy. Dirty devils? At least the women would receive a few million (after the brokers/pimps, village officials and imams take their cuts) and sometimes even a house. Much better than working the streets or being trafficked by fellow Indonesians to Batam brothels.
Yes I used to run into these chaps down at the lovely Tiga Kuda discotheque in Cikini. Princes among men. Quite literally in some cases.
Yes I used to run into these chaps down at the lovely Tiga Kuda discotheque in Cikini. Princes among men. Quite literally in some cases.
Chinese like more traditional patterns on their ring.
Originally Posted By: Roy's Hair
Yes I used to run into these chaps down at the lovely Tiga Kuda discotheque in Cikini.


Used to? Have you resigned from the Kuda?
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Roy's Hair</div><div class="ubbcode-body">Yes I used to run into these chaps down at the lovely Tiga Kuda discotheque in Cikini.</div></div><br /> <br /> Used to? Have you resigned from the Kuda?
Originally Posted By: kenyeung
Originally Posted By: Polisi Cepek
They have plenty of room to play in Puncak, the dirty devils. That was Kalla's idea too.


Arab gentlemen were screwing whores in Puncak long before Kalla invited them to the area to buy short-term contract wives to improve the Indonesian gene pool and economy. Dirty devils? At least the women would receive a few million (after the brokers/pimps, village officials and imams take their cuts) and sometimes even a house. Much better than working the streets or being trafficked by fellow Indonesians to Batam brothels.


Well if you put it like that it all sounds kosher. I mean, Halal.
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: kenyeung</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Polisi Cepek</div><div class="ubbcode-body">They have plenty of room to play in Puncak, the dirty devils. That was Kalla's idea too. </div></div><br /> <br /> Arab gentlemen were screwing whores in Puncak long before Kalla invited them to the area to buy short-term contract wives to improve the Indonesian gene pool and economy. Dirty devils? At least the women would receive a few million (after the brokers/pimps, village officials and imams take their cuts) and sometimes even a house. Much better than working the streets or being trafficked by fellow Indonesians to Batam brothels. </div></div><br /> <br /> Well if you put it like that it all sounds kosher. I mean, Halal.
"Some people think I've been flogging my own sausage," he joked.
Originally Posted By: Polisi Cepek

Well if you put it like that it all sounds kosher. I mean, Halal.


Only haram if they get pissed after :PC:
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Polisi Cepek</div><div class="ubbcode-body"><br /> Well if you put it like that it all sounds kosher. I mean, Halal. </div></div><br /> <br /> Only haram if they get pissed after :PC:
Originally Posted By: Roy's Hair
I guess it's curtains for that half built airport now...


the airport never got off the ground either,
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Roy's Hair</div><div class="ubbcode-body">I guess it's curtains for that half built airport now... </div></div><br /> <br /> the airport never got off the ground either,
There is no love sincerer,.. than the love of food

(George Bernard Shaw)
From http://www.balidiscovery.com/messages/message.asp?Id=5120

Emaar Withdraws From US$600 Million Lombok Project

Bureaucratic Delays and Venal Officials Blamed for Demise of Transformational Tourism Project for Lombok Island.

(3/14/2009) The Jakarta Globe reports that a massive US$600 Million mega-resort planned for South Lombok is now in jeopardy.

The project of shopping, recreation areas, golf courses and luxurious hotels on a 1,200 hectare site is a "pet project" of Indonesia's Vice President, Jusuf Kalla, who personally invited Dubai's state-owned Emaar Properties to spearhead the investment.

Citing bureaucratic delays and an inability by the government to fulfill its obligations, Emaar announced that thy have closed their Jakarta office and are abandoning it plans for investing in Indonesia. Elly Savitri, a representative of Emaar said. "there have been too many delays on the realization of the project and the company just could not wait any more."

Jakarta Globe coverage suggests that greed on the part of government officials seeking hand-outs may have also played a role in a decision to cancel the project. Meanwhile, others suggest that the worsening global financial crisis may have adversely affected the liquidity of Emaar and diminished their keenness to pursue the Lombok investment.

Lombok is almost certain to be sent reeling by Emaar's decision to quit the project, seen as the catalyst for planned new roads and a new international airport in Lombok. The final project was targeted to host 10,000 luxury villas, eight hotels and two 18-hole golf courses.

Emaar told the press that they have already expended US$4.2 million in consultancy fees in connection with the Lombok project.

Jusuf Kalla's plans to woo Middle Eastern investors appears to be in serious strife. The withdrawal of Emaar from the US$600 million Lombok Project follows the recent pull out of the Saudi Arabian Bin Laden Group from a US$4.3 billion agricultural project planned for Papua.

Vice President Kalla has reportedly convened a special meeting of cabinet ministers in a last ditch effort to salvage the prestigious Lombok project.
From <a href="http://www.balidiscovery.com/messages/message.asp?Id=5120" rel="nofollow" target="_blank">http://www.balidiscovery.com/messages/message.asp?Id=5120</a><br /> <br /> <span style="font-size: 14pt"><span style="font-weight: bold">Emaar Withdraws From US$600 Million Lombok Project</span></span><br /> <br /> Bureaucratic Delays and Venal Officials Blamed for Demise of Transformational Tourism Project for Lombok Island.<br /> <br /> (3/14/2009) The Jakarta Globe reports that a massive US$600 Million mega-resort planned for South Lombok is now in jeopardy.<br /> <br /> The project of shopping, recreation areas, golf courses and luxurious hotels on a 1,200 hectare site is a &quot;pet project&quot; of Indonesia's Vice President, Jusuf Kalla, who personally invited Dubai's state-owned Emaar Properties to spearhead the investment.<br /> <br /> Citing bureaucratic delays and an inability by the government to fulfill its obligations, Emaar announced that thy have closed their Jakarta office and are abandoning it plans for investing in Indonesia. Elly Savitri, a representative of Emaar said. &quot;there have been too many delays on the realization of the project and the company just could not wait any more.&quot;<br /> <br /> Jakarta Globe coverage suggests that greed on the part of government officials seeking hand-outs may have also played a role in a decision to cancel the project. Meanwhile, others suggest that the worsening global financial crisis may have adversely affected the liquidity of Emaar and diminished their keenness to pursue the Lombok investment.<br /> <br /> Lombok is almost certain to be sent reeling by Emaar's decision to quit the project, seen as the catalyst for planned new roads and a new international airport in Lombok. The final project was targeted to host 10,000 luxury villas, eight hotels and two 18-hole golf courses.<br /> <br /> Emaar told the press that they have already expended US$4.2 million in consultancy fees in connection with the Lombok project.<br /> <br /> Jusuf Kalla's plans to woo Middle Eastern investors appears to be in serious strife. The withdrawal of Emaar from the US$600 million Lombok Project follows the recent pull out of the Saudi Arabian Bin Laden Group from a US$4.3 billion agricultural project planned for Papua.<br /> <br /> Vice President Kalla has reportedly convened a special meeting of cabinet ministers in a last ditch effort to salvage the prestigious Lombok project. <br />
Jawawa.net: Indonesian Business and Investment News Aggregator
.
.
place within us love that truly gives, tenderness that truly unites, self-offering that tells the truth and does not deceive, forgiveness that truly receives, loving physical union that welcomes
Wrong, the airport was started before Emaar entered the picture - and right now it is about half completed. I'd give it another 2 years before its close to being operational. But the terminal and runway are both seriously under construction.
Wrong, the airport was started before Emaar entered the picture - and right now it is about half completed. I'd give it another 2 years before its close to being operational. But the terminal and runway are both seriously under construction.
Well we'll see. It looked to be well under construction when I passed it at Xmas. However, economic depression and all that. Work may well grind to a halt. Not much point building it if the Ay-rab resorts don't materialise is there?
Well we'll see. It looked to be well under construction when I passed it at Xmas. However, economic depression and all that. Work may well grind to a halt. Not much point building it if the Ay-rab resorts don't materialise is there?
Chinese like more traditional patterns on their ring.
Originally Posted By: Jungle George
Wrong, the airport was started before Emaar entered the picture


The whole Emaar development area is just a takeover of the area previously held by Bambang Tri's LTDC, which had been doing its land grabbing and development planning since before the new airport was started.

The new airport has its own blog - http://www.lombok-airport.co.id/lia/ - and its most recent post, dated December 2008, is accompanied by a photo that shows the airport is well on schedule for completion in 2010.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Jungle George</div><div class="ubbcode-body">Wrong, the airport was started before Emaar entered the picture</div></div><br /> <br /> The whole Emaar development area is just a takeover of the area previously held by Bambang Tri's LTDC, which had been doing its land grabbing and development planning since before the new airport was started.<br /> <br /> The new airport has its own blog - <a href="http://www.lombok-airport.co.id/lia/" rel="nofollow" target="_blank">http://www.lombok-airport.co.id/lia/</a> - and its most recent post, dated December 2008, is accompanied by a photo that shows the airport is well on schedule for completion in 2010.<br /> <br /> <img src="http://www.lombok-airport.co.id/lia/wp-content/uploads/2008/12/web1.jpg" alt="" />
123
106
views
47
replies
0
followers
live preview
enter atleast 10 characters
WARNING: You mentioned %MENTIONS%, but they cannot see this message and will not be notified
Saving...
Saved
All posts under this topic will be deleted ?
Pending draft ... Click to resume editing
Discard draft

Warning: session_write_close(): Session callback expects true/false return value in Unknown on line 0