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14 June 2009

55 year lease of 12000 sqm of waterfront land in Dili granted to foreigner

Northern Territory News, NT businessman's Dili resort dream NICK CALACOURAS, May 29th, 2009 A TERRITORY businessman wants to build a series of beachfront holiday villas in East Timor.

Darwin property developer Henry Yap said he expected East Timor's tourism industry to be flourishing within five to 10 years. "It is something that will definitely happen," he said. "If they do it right, they have huge potential in this area."

Mr Yap, who fled East Timor as a 10-year-old in 1975, last year signed a 55-year lease on a 12,000sqm waterfront property located 3km east of Dili and wants to build 60 individual one-bedroom units with water views.

Image added by ETLJB: The beach in Dili, East Timor looking towards Cape Fatucama

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