Capex Urban Jakarta Propertindo 2019 Achieve IDR800 Billion

Capex Urban Jakarta Propertindo 2019 Achieve IDR800 Billion

  • April 5, 2019
  • in News

PT Urban Jakarta Propertindo Tbk, allocates fund for its capital expenditure this year approximately up to IDR800 billion. Independent Director Development Bisnis PT Urban Jakarta Propertindo, Tri Rachman Batara explained, which is the major portion of the fund to be used for the development of the existing Projects.

“In addition, also for the down payment of land purchase covering an area of approximately 36 thousand square meters amounting to IDR600 billion,” Batara said in Sudirman area, South Jakarta, Friday 5 April 2019. “The commercial area will be the multi-year project and potential for recurring income after its completion in 2022-2023,” he added.

Batara explained, in last 2018, the company realized the increase of capital goods to develop the real estate worth IDR514,6 billion, or an increase if compared with 2017, amounting to IDR312,3 billion. He added, the company will continue implement strategis measures to achieve sustainable growth, focusing on the transit oriented development or TOD. Therefore, the company will continue its research, development and innovation to deliver effective products which meet the needs of communities.

“We are optimistic that we will keep moving forward in the coming years mainly as infrastructure sector shows significant progress,” he said.

“Moreover LRT transportation system (light rail transit) is targeted to complete and star its operation, including the MRT (mass rapid transportation) which is now commercially operating,” he said.

It is noted that PT Urban Jakarta Propertindo owns four Property projects of TOD concept, which integrated to LRT stations. Some of them are Gateway Park in Bekasi, and Urban Signature in Ciracas (East Jakarta) which are joint operations (KSO) with PT Adhi Commuter Properti (ACP).

Whilst the other two property projects, Urban Sky and Urban Suites, situated at Bekasi, are the property and solely developed by Urban Jakarta.

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