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Economy in brief: Indonesia Ferry tops-off Labuan Bajo
Indonesia Ferry Property, a joint venture between state-owned seaport operator ASDP Indonesia Ferry and state construction firm Pembangunan Perumahan, has conducted the topping-off of the first phase of its commercial-area development in Labuan Bajo, East Nusa Tenggara
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span>Indonesia Ferry Property, a joint venture between state-owned seaport operator ASDP Indonesia Ferry and state construction firm Pembangunan Perumahan, has conducted the topping-off of the first phase of its commercial-area development in Labuan Bajo, East Nusa Tenggara.
The commercial area is part of the integrated development of Labuan Bajo, which consists of a marina, hotel and dock with a total investment of Rp 398 billion (US$28.5 million).
“After the topping-off, we expect to finish and operate the commercial area before the end of the year,” ASDP Indonesia Ferry president director Ira Puspadewi said in an official statement on Saturday.
The commercial area will comprise retail tenants and local food and beverage sellers, to boost economic development in the area.
Labuan Bajo, one of the emerging tourist destinations to be developed by the government, is expected to welcome 500,000 foreign tourists and 5 million local tourists by 2019.
