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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.
The opening of the office follows the joint venture agreement signed by the Bali Tourism Development Corporation (BTDC) and Emaar, in Dubai recently, to undertake the Lombok project. Masterplanning for the Dhs2.2bn ($600m; IDR5,446 bn) development is scheduled to begin in April.
'With our development plans for Indonesia, Emaar is consolidating its geographic expansion in Asia,' said Mohamed Ali Alabbar, Chairman, Emaar Properties. 'Emaar's country office in Jakarta will lead the company's efforts at identifying new growth opportunities in the country, and also ensure the on-schedule delivery of the Lombok project, which has the potential to create a new tourism hub like Bali.'
The master-planned community is set on the Kuta and Tanjung beaches and will integrate natural elements into a residential, leisure and hospitality zone. The leisure spread includes diving, snorkeling, hiking and surfing sports, for which Lombok is acclaimed globally. The Lombok project will have over 17 km natural waterfront, which will support a marina, apart from luxury residences and resorts by five-star hospitality chains.
'The project will generate new jobs and support ancillary economic sectors,' added Mohammed Ali Abdullah, Regional Executive Director, Emaar International - Indonesia, Algeria and Libya. 'In line with environmental best practices, the Lombok project will explore new advances in project development and create a sustainable tourist hub.'
Emaar had highlighted its commitment to Indonesia with the rebuilding of an earthquake ravaged village. A joint initiative with the World Association of Non-Government Organizations (WANGO), Emaar's project in Ngelepen encompassed the construction of unique Monolithic EcoShell Dome homes, which mitigate the effects of natural disasters.
Emaar's expansion to Indonesia is in line with its Vision 2010 to become one of the most valuable companies in the world through geographic expansion and business segmentation. Emaar has a growing presence in Asia, and last year opened its first Emaar - Raffles International School in Singapore, which also marked the company's move into education.
Emaar builds expansion to Indonesia with office opening in Jakarta
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.
- United Arab Emirates: Wednesday, May 07 - 2008 at 10:34
- PRESS RELEASE
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About Emaar Properties PJSC:Emaar Properties PJSC is one of the world's largest real estate companies and is rapidly evolving to become a global provider of premier lifestyles. Powered by its Vision 2010 to become one of the most valuable companies in the world, Emaar is charting a new course of growth with a two-pronged strategy of geographical expansion and business segmentation.
Emaar has highlighted its remarkable global growth by debuting on the Financial Times Global 500 ranking, which provides an annual snapshot of the world's largest companies. Emaar has been assigned A- and A3 ratings with stable outlook by Standard & Poor's and Moody's Investor Services, respectively.
Replicating its successful business model in Dubai, Emaar is extending its expertise in creating master-planned communities to international markets. Emaar is also developing new competencies in malls, hospitality & leisure, education, healthcare and finance, which have evolved from its integrated approach to customer service and property development.
Listed on the Dubai Financial Market, part of the Dow Jones Arabia Titans Index and certified to ISO9001:2000 for quality standards, Emaar is developing Burj Dubai, the world's tallest building and free-standing structure, and The Dubai Mall, one of the world's largest shopping and entertainment destinations. In Saudi Arabia, Emaar is developing the $26.6bn King Abdullah Economic City, the region's largest private sector-led project. Emaar's portfolio currently covers the following countries: the UAE, Saudi Arabia, Jordan, Syria, Lebanon, Morocco, Egypt, Turkey, Libya, Algeria, India, Pakistan, Indonesia, the US, the UK, France and Canada.
An award-winning developer, Emaar has strengthened its product sale competencies, market reach and best practices through strategic acquisitions and joint ventures. Emaar acquired John Laing Homes, America's second largest privately held home builder; Hamptons International, UK's premier realtor; and formed a joint venture with US-based Turner International to strengthen execution capabilities.
Emaar has joined hands with Giorgio Armani and Accor Hotels to strengthen its presence in hospitality, and will launch ten luxury Armani Hotels & Resorts world-wide and 100 Formule 1 budget hotels in India. The company is opening educational institutions and healthcare centres in South Asia, Middle East and North Africa and the Subcontinent. Emaar acquired Singapore-based leading education provider, Raffles Campus, to extend expertise to its educational institutions.
Emaar holds 30% equity in Dubai Bank, focused on retail and commercial banking. Emaar is also the largest shareholder in Amlak Finance, UAE's leading Islamic home financing company.
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Posted by Anne-Birte Stensgaard, Senior News EditorWednesday, May 07 - 2008 at 10:34 UAE local time (GMT+4)
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Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AME Info Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AME Info Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
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