JAKARTA. PT Urban Jakarta Propertindo Tbk (URBN) injected additional capital of Rp 2 trillion for the development of the Jakarta River City (JRC), a mixed-used area with the concept of Transit Oriented Development (TOD).
Bambang Sumargono, Director of URBN, said that the capital injection increased the company’s authorized capital at JRC to Rp 6.03 trillion, and its paid-up capital also rose to Rp 2 trillion.
The corporate action also made URBN the controlling shareholder of the JRC. Sumargono explained that URBN now owns 1,001,391 (51.01%) of JRC shares. The remaining 961,677 shares (48.99%) are owned by PT Wika Realty.
“Amid the current pandemic situation, the property sector remains the main choice for investment. I believe what we sow at the moment can be reaped in the coming years, “Sumargono told idnfinancials.com today.
Earlier in April, URBN acquired the Jakarta River City (JRC) project in the MT Haryono, Cawang, East Jakarta, for Rp 633 billion. Haryono also emphasized the company’s commitment in developing this project. (KR/AR)