Property developer PT Agung Podomoro Land plans to build six mixed-used highrise buildings and other facilities on a 9.5-hectare site owned by PT Graha Cipta in East Jakarta, said Investor Relations Officer Wibisono.
The company will also develop apartments, shopping malls and other facilities on the site with a total investment of 3 trillion rupiah ($255.2 million), Wibisono said.
Agung has acquired an 85 percent stake in PT Graha Cipta Kharisma, worth 305 billion rupiah ($26 million), Wibisono said, and construction is expected to commence in mid-2015 and could be completed within the next four years. (Kontan)
Note: Reuters has not verified this story and does not vouch for its accuracy. (1 US dollar = 11,755 rupiah) (Compiled by Jakarta Newsroom; Editing by Prateek Chatterjee)