Donald Trump’s Southeast Asian ambitions hit a roadblock
Real estate projects in Southeast Asia bearing the name of former US president Donald Trump have apparently reached an impasse as plans to build Trump-branded country clubs, luxury resorts and residences as part of a 35 trillion rupiah ($2.4 billion) entertainment and lifestyle complex in Indonesia appear to have stalled, according to a Nikkei Asia report referring to local developer MNC Land.
The resort, whose construction is being led by a unit of Indonesian conglomerate MNC Group, is finally gathering speed following years of delays and the latest disruption by the coronavirus pandemic.. But the Trump Organisation, which had been linked with the development since 2015, has been scrubbed from MNC’s most recent promotional materials.
No more mention of Trump projects
MNC Land, a property subsidiary of MNC Group, kicked off construction in recent weeks on the Lido City development in West Java, about 60 kilometers south of Jakarta. But at a presentation by MNC Land on March 10, there was no more mentioning of the Trump Organisation’s involvement, the report said.
Asked about progress of the Trump-branded parts of the project, the group’s executive chairman, Hary Tanoesoedibjo, said they “won’t likely pick up yet for the time being.” He did not elaborate further.
A half-finished golf course in Lido, previously touted as the Trump International Golf Club, was also not marketed under the Trump brand at the event, without explanation.
“First resort project in Southeast Asia”
MNC Land signed a management agreement with the Trump Organisation in 2015 to build what they called “the first integrated Trump Resort and Residencies in Asia” in Lido and on the resort island of Bali. They were to have included Trump-branded country clubs, resorts and residences.
The uncertainty over Trump’s involvement in the Indonesia projects comes at a difficult time for the former president’s businesses. Disclosure forms filed as he left the White House on January 20 showed that Trump’s hotels, golf courses and other properties had seen total revenues fall sharply in 2020 as Covid-19 hurt the tourism and hospitality sectors.
The Trump-branded resort project on Bali has also been put on hold amid a serious economic crisis in the tourism-dependent island, the report said.
However, both the Bali and Lido projects were still listed on the Trump Organisation’s official website as of March 14.
Artist's rendition of the Trump-branded Lido Residences in West Java Real estate projects in Southeast Asia bearing the name of former US president Donald Trump have apparently reached an impasse as plans to build Trump-branded country clubs, luxury resorts and residences as part of a 35 trillion rupiah ($2.4 billion) entertainment and lifestyle complex in Indonesia appear to have stalled, according to a Nikkei Asia report referring to local developer MNC Land. The resort, whose construction is being led by a unit of Indonesian conglomerate MNC Group, is finally gathering speed following years of delays and the latest disruption by...
Real estate projects in Southeast Asia bearing the name of former US president Donald Trump have apparently reached an impasse as plans to build Trump-branded country clubs, luxury resorts and residences as part of a 35 trillion rupiah ($2.4 billion) entertainment and lifestyle complex in Indonesia appear to have stalled, according to a Nikkei Asia report referring to local developer MNC Land.
The resort, whose construction is being led by a unit of Indonesian conglomerate MNC Group, is finally gathering speed following years of delays and the latest disruption by the coronavirus pandemic.. But the Trump Organisation, which had been linked with the development since 2015, has been scrubbed from MNC’s most recent promotional materials.
No more mention of Trump projects
MNC Land, a property subsidiary of MNC Group, kicked off construction in recent weeks on the Lido City development in West Java, about 60 kilometers south of Jakarta. But at a presentation by MNC Land on March 10, there was no more mentioning of the Trump Organisation’s involvement, the report said.
Asked about progress of the Trump-branded parts of the project, the group’s executive chairman, Hary Tanoesoedibjo, said they “won’t likely pick up yet for the time being.” He did not elaborate further.
A half-finished golf course in Lido, previously touted as the Trump International Golf Club, was also not marketed under the Trump brand at the event, without explanation.
“First resort project in Southeast Asia”
MNC Land signed a management agreement with the Trump Organisation in 2015 to build what they called “the first integrated Trump Resort and Residencies in Asia” in Lido and on the resort island of Bali. They were to have included Trump-branded country clubs, resorts and residences.
The uncertainty over Trump’s involvement in the Indonesia projects comes at a difficult time for the former president’s businesses. Disclosure forms filed as he left the White House on January 20 showed that Trump’s hotels, golf courses and other properties had seen total revenues fall sharply in 2020 as Covid-19 hurt the tourism and hospitality sectors.
The Trump-branded resort project on Bali has also been put on hold amid a serious economic crisis in the tourism-dependent island, the report said.
However, both the Bali and Lido projects were still listed on the Trump Organisation’s official website as of March 14.
