PT Bakrieland Development Tbk, a subsidiary of Bakrie Group controlled by Golkar Party chairman Aburizal Bakrie, has emerged as the largest land bank owner in Greater Jakarta after it acquired 10,500 hectares of land in Bukit Jonggol Asri in Bogor, West Java using fresh fund raised from its rights issue.
Bakrieland president director Hiramsyah Thaib said the company now controlled 51 percent of shares in Bukit Jonggol Asri (BJA) and 20 percent in Bukit Sentul following the acquisition.
In total Bakrieland now owns 15,000 hectares of land. “We can be called a developer with the largest land bank in Greater Jakarta,” Hiramsyah said as quoted by kompas.com on Saturday.
He said Bakrieland had allocated between Rp 450 billion (US$50 million) and Rp 500 billion to build infrastructure in BJA, including a 10-kilometer road connecting BJA and Bukit Sentul housing complexes which will cost the company up to Rp 200 billion. Construction of the road will start after Idul Fitri and is expected to finish in nine months.
Bakrieland will spend a total of Rp 5 trillion to acquire the land and develop BJA. ''We will make it in stages,” said Hiramsyah.
The company expects BJA sales to hit Rp 1.5 trillion in the coming three years.
| 
|
|
|
|
|
|
|