Emirates Business 24/7 reported that Emaar properties has strong financial fundamentals and will undertake all strategic projects across its key markets.

The Dubai developer said that it has responded on time and with total commitment to the proposals of the Bali Tourism Development Corporation for the Lombok project.

The spokesperson said that Emaar also provided recommendations on how it intends to proceed with the development of the project.

The comments came after media reports said that the Indonesian Government had terminated all commitments with Emaar on a mega tourism project in Lombok, West Nusa Tenggara after it failed to meet its share of the bargain in developing the project.

Mr Gita Wirjawan chairman of the Indonesian Investment Coordinating Board said that "Four investors, from Abu Dhabi, Qatar, India and Ras Al Khaimah are interested in the project."

(Sourced from Emirates Business 24/7)