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MNC Land and Trump Hotels to build resorts in West Java and Bali

Jakarta. MNC Land, the property arm of Indonesia’s MNC Group, has confirmed it will build two new resorts in Lido, West Java, and Tanah Lot, Bali, in partnership with real estate mogul and US Republican presidential nominee Donald Trump’s The Trump Organization — with construction to start in early 2017, its senior official said in a statement on Tuesday (02/08).

The $500 million resort and theme park in Lido will be the country’s first integrated lifestyle resort, which included two hotels, a golf field and a high-end residential complex.

The 3,000-hectare project is expected to boost the company’s earnings in the next few years.

MNC Land tripled its profit to Rp 606 billion ($46 million) in the first six months of this year from Rp 201 billion in the same period last year. The company’s revenue was down 13 percent to Rp 474 billion in the first half of this year from Rp 544 billion in the same period last year.

“Our outstanding performance was boosted by several ongoing projects, which we are optimistic will be completed on schedule,” said the group’s CEO, Hary Tanoesoedibjo, in the statement.

The Trump Organization will be the operator of the Lido project and the 108-hectare six-star complex of hotel, luxury villa, apartment and retail outlets called the Nirwana Resort in Tanah Lot, Bali.

MNC Land has also appointed California-based design company Opak Creative and Chinese construction firm Metallurgical Corporation Group to develop the resort in Lido. Another plan is to build a toll road leading to the Lido resort and connecting the two cities of Bogor and Sukabumi in West Java, enabling easy access for visitors.

Trump Hotels and MNC Group officially signed an agreement for the two projects on Aug. 19 last year.

The Trump Organization is privately held by Donald J. Trump, the Republican Party’s nominee in this year’s US presidential election, and serves as the principal holding for Trump’s other business ventures and investments. During the campaign for his nomination, Trump earned notoriety by making many derogatory remarks regarding Islam, immigrants and women, causing a stir online and offline.

Source: http://jakartaglobe.beritasatu.com/business/mnc-land-trump-hotels-build-resorts-west-java-bali/