{"id":93971,"date":"2024-07-18T00:00:00","date_gmt":"2024-07-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/eagle-hills-earmarks-usd-3-bn-to-develop-indonesias-infrastructure\/"},"modified":"2024-07-18T00:00:00","modified_gmt":"2024-07-18T00:00:00","slug":"eagle-hills-earmarks-usd-3-bn-to-develop-indonesias-infrastructure","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/07\/18\/eagle-hills-earmarks-usd-3-bn-to-develop-indonesias-infrastructure\/","title":{"rendered":"Eagle Hills earmarks USD 3 bn to develop Indonesia\u2019s infrastructure"},"content":{"rendered":"

Indonesian President Joko Widodo wrapped up his two-day visit to the UAE<\/strong>, where he met President Sheikh Mohamed bin Zayed Al Nahyan at Qasr Al Watan in Abu Dhabi. The two leaders signed a raft of MoUs, building on the comprehensive economic partnership inked between the two countries in 2022<\/a>, Wam<\/a> reports. The visit also saw the UAE\u2019s Eagle Hills ink an agreement for a sizable real estate investment ticket, as well as cooperation on the banking front.<\/p>\n

INVESTMENT-<\/span><\/p>\n

Eagle Hills to support Indonesia\u2019s tourism with a USD 3 bn investment ticket: <\/strong>Abu Dhabi-based developer Eagle Hills has signed an agreement worth USD 3 bn with Indonesia\u2019s State-owned Enterprises Ministry to develop the country\u2019s tourism infrastructure, the ministry said in a statement<\/a>. The agreement will be valid for one year, with an option to extend, the statement said. .<\/p>\n

What does the agreement cover? <\/strong>The agreement will see the Emirati firm develop hotels, airports, and tourism destinations, including Jakarta's Soekarno-Hatta International Airport infrastructure, the Business Times<\/a> reports. The agreement doesn\u2019t set out a definite timeline for the projects, \u201cgiving flexibility on implementation,\u201d the statement said. <\/p>\n

REMEMBER- Eagle Hills has been expanding its investments abroad: <\/strong>The developer has this year lined up a USD 1.5 bn investment<\/a> in a golf course and spa in Baghdad, a EUR 3 bn investment<\/a> to redevelop a beachfront in Latvia, a more than EUR 5 bn investment<\/a> in Budapest, and a USD 4 bn investment<\/a> in real estate in Bahrain. <\/p>\n

BANKING-<\/p>\n

The Central Bank of the UAE will link its payments system with Bank Indonesia <\/strong>under an MoU signed yesterday to facilitate cross-border payments between the two countries and support economic development, Wam<\/a> reports. The agreement is an extension of a similar MoU from November 2023<\/a>, aimed at boosting cooperation and information exchange between the two central banks.<\/p>\n

The MoU also sets out a joint mechanism for risk management<\/strong>, regulatory cooperation and user protection. <\/p>\n

OTHER MoUs-<\/p>\n