The Indonesian government has blocked a billion-dollar real estate project outside Jakarta that was to feature Trump-branded hotels, residences, and a golf course. Citing environmental damage, officials halted the MNC Lido City development, which was backed by Chinese government loans and poised to become a 'world-class integrated tourism' resort.
The Indonesian government has halted a billion-dollar real estate development outside Jakarta that was to include luxury properties under US President Donald Trump's brand. Officials cited environmental damage as the reason for the stoppage. Trump-branded hotels, residences, and a golf course were part of the blueprint for MNC Lido City, an entertainment park project by a subsidiary of Chinese state-owned construction firm Metallurgical Corporation of China (MCC).
The area, set to be part of a 'world-class integrated tourism' resort, was expected to be backed by up to US$500 million in Chinese government loans. But Indonesia's Environment Minister Hanif Faisol Nurofiq ordered the halt on Thursday after a field inspection discovered several violations. The ministry's senior official Rizal Irawan told a news conference on Friday that the project's land clearing activities allegedly caused sedimentation and shallowing in Lake Lido. Satellite images by the ministry showed Lake Lido in West Java province has more than halved in size since the construction began -- down from 24.7 hectares (61 acres) to 11.9 hectares. Authorities also found significant discrepancies between the approved environmental plans and the actual construction by Indonesia's MNC Land subsidiary, PT MNC Land Lido. PT MNC Land Lido argued that the sedimentation had occurred before the company took charge in 2013. 'Sedimentation or shallowing as alleged has occurred before PT MNC Land Lido took over the Lido Area in 2013, which can be proven by the existence of aerial photos from 2013,' the company said in a statement cited by Indonesia's news agency Antara. The project is a key part of the 3,000-hectare special economic zone development
PROPERTY DEVELOPMENT ENVIRONMENTAL DAMAGE INDONESIA TRUMP BRAND CHINESE INVESTMENT
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