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APL allocates Rp 4.9t to start reclamation project
Property developer Agung Podomoro Land (APL) announced Thursday that it had allocated Rp 4
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roperty developer Agung Podomoro Land (APL) announced Thursday that it had allocated Rp 4.9 trillion (US$388 million) for designing and dredging activities in the North Jakarta reclamation project.
In an official statement, APL said that through its associated entity, Muara Wisesa Samudera, it had appointed two global reclamation contractors, Boskalis and Van Oord, which would commence reclamation activities for 160 hectares of land through a joint venture with a contract worth Rp 4.9 trillion.
The reclamation project is scheduled for completion in 2018, after which APL will start developing its Pluit City project.
The Pluit City project is part of APL's plan to build three artificial islands in the Java Sea, which borders Pluit district in North Jakarta. The project could cost approximately Rp 50 trillion as it includes the development of micro-cities comprising thousands of houses, apartments and other supporting facilities to accommodate 700,000 people.
The project is part of the Jakarta administration's spatial planning program initiated under then Jakarta governor Fauzi Bowo. The program aims to develop northern Jakarta as an alternative residential area. The Jakarta administration, which governs about 10 million people in the 740-square-kilometer capital city, is planning to reclaim more land and create 17 new islands.
APL secured its reclamation permit late last year. (ebf)(+++)
