J

AKARTA: The management of the Sudirman Central Business District (SCBD) in South Jakarta, say they will build a 638-meter building with 111 floors at the heart of the area by 2020.

The Signature Tower (see picture), a mixed-use building, would be the tallest tower in Indonesia, seizing record currently held by the 262-meter Wisma 46 Tower in Central Jakarta.

The tower would also the world’s fifth tallest building in 2020, according to a list on tall buildings, as stated on the SCBD’s website. On the list, the skyscraper is ranked between the Seoul Light DMC Tower (640 meters) in fourth place and the Shanghai Tower (632 meters) in sixth place.

Construction on the US$1 billion (Rp 9.2 trillion) project will start later this year. SCBD is managed by PT Danayasa Arthatama Tbk. A 17.58 percent share is owned by the public and 82.4 percent belongs to PT Jakarta International Hotels & Development (JIHD) Tbk, tempo.co reported.

Business tycoon Tomy Winata has a 15.87 percent share in JIHD, Sugianto Kusuma has 9.76 percent and Santoso Gunara has 0.40 percent. The other shareholders comprise Indonesians, with shares under 5 percent totaling 53.32 percent, and foreigners holding 20.65 percent, each with less than 5 percent.