The Jakarta Post
The Jakarta administration plans to transform the Tanah Abang area in Central Jakarta into an upscale business district similar to SCBD in South Jakarta, an official has said.
City-owned developer PD Pembangunan Sarana Jaya president director Yoory C. Pinontoan said the plan would take eight years to finish and the city had allocated Rp 1.1 trillion (US$78.85 million) this year from the city budget for land acquisition.
"We will start the land procurement this year. The process will be gradual and we have communicated with the Attorney General's Office, the Central Jakarta mayor and the National Land Agency to ensure a smooth land acquisition process," he said on Monday as quoted by kompas.com.
He said the administration targeted to finish the land acquisition next year.
"There are 13.3 hectares of land to be acquired. My target is to finish it by 2020," he said.
Previously, City Council speaker Prasetio Edi Marsudi suggested that the administration acquire more land in the area to allow them to fully develop it into a new upscale business district.
The development will reportedly cost Rp 19.4 trillion in total and the administration will invite the private sector to invest in the project. (fac/iwa)