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Meikarta's first phase to finish in early 2021
Property giant PT Lippo Karawaci is confident the initial phase of the Meikarta megaproject will be completed in the next one to two years.
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Property giant PT Lippo Karawaci is confident the initial phase of the Meikarta megaproject will be completed in the next one to two years.
(Shutterstock/File)
Property giant PT Lippo Karawaci is confident the initial phase of the Meikarta megaproject will be completed in the next one to two years.
Chief executive officer John Riady, the grandson of Lippo Group founder Mochtar Riady, said the company expected the Meikarta project to be completed in the fourth quarter of 2020 or the first quarter of 2021, starting with the topping off of the first four towers in August.
He said first part of the initial phase, dubbed phase 1A, had been built on 28 hectares of land consisting of 22,500 apartments in 56 towers.
Despite the completion of phase 1A, the property holding company still has a long way to go as the project, designed to become the “Shenzen of Indonesia”, sits atop 22 square kilometers (2,200 ha) of land in Cikarang in Bekasi, West Java.
Moreover, the project was left in limbo when Lippo Group executive Billy Sindoro was accused of bribery last year.
