Jakarta Tower Hires Jones Lang LaSalle

VIVAnews - The developer of Jakarta Tower hires world-class property consultant Jones Lang LaSalle to examine the project prior to being released to consumers.

"Jones Lang will hold a feasibility test within the next few months," Roesdiman Soegiarso, Director of Prasada Japa Pamudja, developer of the Jakarta Tower, told VIVAnews on Thursday, Feb 13. "This is a serious project. We must surely hire a world-class consultant," he said. 

Jones Lang LaSalle is a notable property consultant. It has set up several branches in Jakarta and act as advisor for prominent property projects in the nation. LaSalle has a role in importing top quality products sold several malls in Jakarta.

After the examination is finished, the developer will start to offer the project to consumers-to-be. The reason for this is that the tallest tower in the world will not only be a telecommunication tower. It will also have office spaces, shopping malls and hotels.

The purpose of the study is also for the developer to propose loans. Of the total budget of around Rp 3 trillion (US$252.6 million), according to Soegiarso, funds from investors and sales or leases of spaces will not be sufficient.

He explained that the developer has actually met top banks. However, due to the crisis, banks tend to wait.

The project is under eight percent of construction and is targeted to be completed by 2012.

Translated by: Bonardo Maulana Wahono