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PTPP to expand into Australia
State-owned construction firm PT Pembangunan Perumahan (PTPP), through its subsidiary PT PP Properti, is set to expand its business into Australia next year
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tate-owned construction firm PT Pembangunan Perumahan (PTPP), through its subsidiary PT PP Properti, is set to expand its business into Australia next year.
PTPP finance director Tumiyana said that PT PP Properti was going to develop multiplex and Pindan apartments in Australia, totaling 250 units.
'The project is worth around Rp 1.1 trillion [US$90.2 million],' Tumiyana said in Jakarta on Wednesday, as quoted by kontan.co.id.
He said that the company was currently selecting two local partners in Australia for the projects. PTPP would hold 51 percent shares in the projects.
He was hoping that the selection process and administration could be finalized soon so that the construction of the apartments could begin in the third quarter of 2015. (nfo)(++++)
