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Podomoro buys mall operator for Rp 210b
JAKARTA: Publicly listed property developer PT Agung Podomoro Land (APLN) announced on Monday the completion of a Rp 210 billion (US$23 million) acquisition of a 65 percent stake in PT Pandega Citraniaga, a mall owner and operator in East Kalimantan
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AKARTA: Publicly listed property developer PT Agung Podomoro Land (APLN) announced on Monday the completion of a Rp 210 billion (US$23 million) acquisition of a 65 percent stake in PT Pandega Citraniaga, a mall owner and operator in East Kalimantan.
The acquisition is part of Agung Podomoro’s business plan to acquire up to 15 projects this year.
“The mall has 5 hectares of land. The company will carry out reclamation on another 5 hectares, which will be developed as a small scale superblock consisting of a lifestyle mall, hotel, apartment tower and office complex,” Agung Podomoro said in a written statement.
“The acquisition emphasizes our strategy of developing mixed-use real estate in emerging cities outside the island of Java,” Agung Podomoro president director and CEO Trihatma Kusuma Haliman said in the
statement.
