KONTAN.CO.ID - JAKARTA. Indonesian property firm PT MNC Land launched on Friday a 1,040 hectare (2,570 acre) tourism complex on Java island, where former U.S. President Donald Trump's company will operate a hotel and a golf course. Indonesian President Joko Widodo also inaugurated a special economic zone within MNC's tourism project, which is called Lido City and located around 60 km (37 miles) south of the capital Jakarta in the Bogor area. MNC Land said the special economic zone status means investors or developers can benefit from corporate and luxury goods sales tax cuts and some leniency on permits, adding benefits included an 80-year building rights title and foreign ownership.
Indonesia Firm Launches Tourism Complex with Trump Operating Hotel, Golf Course
KONTAN.CO.ID - JAKARTA. Indonesian property firm PT MNC Land launched on Friday a 1,040 hectare (2,570 acre) tourism complex on Java island, where former U.S. President Donald Trump's company will operate a hotel and a golf course. Indonesian President Joko Widodo also inaugurated a special economic zone within MNC's tourism project, which is called Lido City and located around 60 km (37 miles) south of the capital Jakarta in the Bogor area. MNC Land said the special economic zone status means investors or developers can benefit from corporate and luxury goods sales tax cuts and some leniency on permits, adding benefits included an 80-year building rights title and foreign ownership.