Eagle Hills Properties Signs MoU to Enhance Indonesian Tourism Sector
The collaboration will focus on airport area enhancements, upgrading state-owned hotels, and new tourism destinations.
UAE developers Eagle Hills Properties has partnered up with Indonesia’s Ministry of State-Owned Enterprises (SOEs) to enhance Indonesia's tourism and infrastructure sectors.
This agreement was formalized with a Memorandum of Understanding (MoU) signed in the presence of Indonesian President Joko Widodo and UAE President Sheikh Mohammed bin Zayed Al Nahyan. Minister of SOEs Erick Thohir and Mohammed Alabbar, Founder and Chairman of Eagle Hills Properties, signed the MoU, which includes a planned investment of up to USD 3 billion.
The collaboration will focus on property development, airport area enhancements, upgrading state-owned hotels, and the development of new tourism destinations, alongside knowledge transfer through joint studies and training programs.
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“This landmark agreement represents a pivotal moment for Indonesia's tourism sector. By joining forces with Eagle Hills Properties, we are setting the stage for unprecedented growth and development in our hospitality industry,” Minister Thohir tells SceneNowUAE. “This partnership aligns perfectly with our national strategy to diversify our economy and establish Indonesia as a premier global tourism destination. We are confident that this collaboration will not only boost our infrastructure but also create significant employment opportunities and drive sustainable economic growth across our beautiful archipelago."
The MoU, effective for one year with a possibility of extension, does not set a fixed timeline for the USD 3 billion investment, providing flexibility in its execution. This collaboration is a critical step in Indonesia's strategy to attract foreign investment and expertise to its tourism industry, potentially transforming the country's tourism landscape. The initiative is part of a broader effort by the Ministry of SOEs to foster partnerships between Indonesian SOEs and international companies, aiming to boost productivity and impact in various sectors.
"Indonesia has significant potential due to its resources and tourism destinations,” Mohammed Alabbar, Founder and CHairman of Eagle Hills Properties, said. “We believe Indonesia can be competitive and increase its proportion of the tourism sector’s contribution to the GDP - Eagle Hills would like to support this endeavor."
Indonesia's SOEs have previously established notable partnerships with global entities across different sectors. These include collaborations with US-based Merck for vaccines, Swire Hong Kong in healthcare, and UAE-based Masdar in clean energy. Additionally, several partnerships have been formed to develop Indonesia's electric vehicle ecosystem, such as agreements with Canadian mining company Vale-Base-Metal for nickel production, and with Ford and Volkswagen for EV manufacturing.
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