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Emaar withdraws from US$600 million Lombok project
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.
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