High Interest in Jakarta Property Business

VIVAnews - PT Perdana Gapuraprima Tbk (GPRA) plans to develop three housing projects in 2009. They chose Jakarta since the city still has a big prospect in the housing business.

"We will officially open one projection location in March," said the Secretary Company of Gapura, Prima Rosihan Saad, after the Corporate Secretary Forum event in Oasis Restaurant in Jakarta on Thursday, Feb. 19.

Rosihan said that the middle-class housing prospect, such as apartments, is still promising. "The need of housing in Jakarta is still high. And the same goes for office buildings," he said.

Rosihan said that these three projects will only take a short amount of time. The projects will be developed in relatively smaller areas around 5,000 meters up to a hectare. "Basically, Gapura's investment will still be going," said Rosihan.

Although he did not mention the number of the investments, Rosihan beckoned that the investment came from bank funding, from  internal stock owners and, probably, obligation. "50 percent of the shares comes from Kuwait, 10 percent from Malaysia, another 10 percent from Dubai, and the rest is domestic," he said.

Mean while, he admits that in order to issue obligation or use the fund from the initial public offering (IPO), the company will have to see the progress after the upcoming General Elections.

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Translated by: Ariyantri E. Tarman