PT Urban Jakarta Propertindo (UJP) starts the physical construction of Urban Sky project in Cikunir, Bekasi worth IDR1,3 trillion today, Friday (31/8/2018). The project is targeted to be completed within less than two years.
Tri Rachman Batara, Director of Business Development and Corporate Secretary of Urban Jakarta Propertindo, said that Urban Sky is a project with TOD Concept (Transit Oriented Development) along the Jakarta-Bekasi LRT (Light Rail Transit) lines. This project, will consist of two big towers with 3.300 apartment units and 4.600 m2 commercial areas including public areas of sport facilities, including 25.000 m2 parking area (building), to be constructed on a plot of land covering an area of 12.650 m2. Tri said, the project has been given with principal permits such as Building Permit (IMB) and pile test permit. The company engaged Adhi Persada Building (APG) as the contractor, for its experience in building the facility wirh similar concept in other locations. “We believe that the residence and facility with TOD concept will be the main choice for the urbans, the community residing outside Jakarta and with daily routine work, school and other activities in Jakarta city,” Batara said through press release, Friday (31/8/2018). Batara said, for those living in Urban Sky, the mobility from and to Jakarta and business center will be very easy and low-cost, since the LRT station is situated in their residence area. “They can save transportation expenses up to IDR6 million per month,” he said.
PT Urban Jakarta Propertindo is a national developer company formed in 2016 and grows very rapidly. Batara said, currently the company is planning to go public or schedule its Initial Public Offering in the Indonesian Stock Exchange.
“We are preparing and completing documents for IPO. We expect that in early September, we can submit the documents to FSA. We target our listing in BEI in early December 2018,” he said. Currently, UJP is developing four projects with TOD concept. Two of them are Gateway Park in Jaticempaka and Urban Signature in Ciracas, which are Joint Operation Project (KSO) with PT Adhi Commuter Properti. Meanwhile the other two projects are Urban Sky and Urban Suites in Cikunir fully owned and developed by UJP. Per company’s financial statement for the year 2017, UJP has total assets IDR1,05 trillion. It is expected that the assets will continue to grow in line with the business development and growth of asset value mainly after the project LRT is completed and in operation.