Dubai-based Emaar Properties is denying reports that it is pulling out of a plan to develop a $600 million resort and residential project on the Indonesian island of Lombok.
In March 2008 Emaar signed a joint venture deal with the Bali Tourism Development Corporation to build the project, one of the first ventures into Indonesia by a Middle East developer. Emaar announced plans for a 1,200 hectare development, including a marina and golf course on the island, which is about 25 miles from Bali.
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