JAKARTA (Yosefardi) – PT Adhi Persada Property, unit of state construction firm PT Adhi Karya Tbk (ADHI), is expanding its property projects amid high interest rate and inflation, targets its property projects to reach Rp13 trillion in 2013-2016 period, Investor Daily reported this morning.
The projects consist of landed housing, vertical housing, offices, malls and commercial spaces. The projects will be funded by bonds issued by parent company, bank loan, and pre-sales.
The projects are located in some areas such as Depok, Bekasi, South Jakarta, Bandung, Malang, West Java, Surabaya, Bali and Yogyakarta.
Adhi Persada Property earlier said it plans to invest Rp5 trillion in mixed-use high rise building projects. The projects will run next year, consisting of Grand Dhika City (Bekasi), Taman Melati Pasteus (Bandung), Taman Melati Dinoyo (Malang), Taman Melati Mulyorejo (Surabaya), Grand Dhika City Surabaya, Grand Dhika Keputih (Surabaya), and Grand Dhika City (Daan Mogot).
The current ongoing projects included Salemba Residence (Jakarta), Grand Taman Melati (Margonda), Grand Dhika City Bekasi Tower Cempaka, Taman Melati Jatinangor, Vila and kondotel Sunset Road Bali, and Pejaten Mansion.
The company targets to book revenues of Rp2.5 trillion by 2017. It allocate capital expenditure (capex) of Rp400-500 billion for this year.