Arabian group to build skyscraper in Jakarta

06/05/2008 -- 9:24 PM

Jakarta (VNA) - Dubai-based real estate giant Emaar Properties plans to build a landmark tower in Jakarta that is set to become the tallest skyscraper in Southeast Asia, local media reported on May 6. Indonesian President’s special envoy for the Middle East , Alwi Shihab, said Emaar Chairman Mohamed Ali Alabbar proposed the project to President Susilo Bambang Yudhoyono during an informal meeting last weekend. The Arabian developer is looking for the right location in Jakarta for the project. Emaar, the largest land and real estate developer in the Gulf, has already signed a joint venture agreement with Indonesia’s state-owned Bali Tourism Development Corporation in March to build an integrated tourism project in southern Lombok, West Nusa Tenggara, with a total investment of 600 million USD. The Indonesian government has received accumulated investment worth almost 5 billion USD from the Middle East. The Southeast Asian nation is now targeting to attract 10 billion USD by 2009 from the region.-Enditem
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