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  HOME | Business & Economy (Click here for more)

Trump Jr. Launches Two Luxury Resorts and Residences Project in Indonesia

JAKARTA – Donald Trump Jr. presented on Tuesday a project for two luxury resorts worth $1.7 billion on the Indonesian islands of Java and Bali.

During an event in Jakarta alongside business magnate Hary Tanoesoedibjo, Trump Jr., who is vice president of the Trump Organization, announced the launch of pre-sale of luxury residences.

They are to be constructed by MNC Land, one of the companies owned by Indonesian businessman Tanoesoedibjo.

In a statement, MNC Land said the Trump Residences Lido will have 281 luxurious residences across 350 hectares of land, which is integrated in the entertainment and lifestyle destination of MNC Lido City just outside the Bogor city, some 60 kilometers (37.2 miles) south of the capital on Java island.

MNC Lido City, with an area of 3,000 hectares, will have a theme park, a concert venue that will accommodate up to 100,000 people, a movie studio and a golf course which is already ready.

The MNC Land is set to build 144 ultra-luxurious residences and a golf club, which will be managed by The Trump Organization, near the Tanah Lot temple, some 25 kilometers from Ngurah Rai International Airport.

Trump Jr. said that the projects will be, “showcasing superior luxuries that will elevate the ultimate lifestyle,” according to a statement by MNC Land.

The Trump Organization signed the project with MNC Group in 2015, before the presidential era of his father, Donald Trump, and agreed to $3.7 million for licensing and consulting commissions from the Indonesian conglomerate.

The project undertaken by Trump’s firm is one of the initiatives that is criticized by the Committee on Responsibility and Ethics in Washington over a reported conflict of interest.

Donald Trump transferred his shares of hundreds of firms in 2017 to a revocable trust administered by his eldest son, Trump Jr., and the Chief Financial Officer of the Trump Organization, Allen Weisselberg.

 

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