JAKARTA (Yosefardi) – Cosmetics producer PT Mustika Ratu Tbk (MRAT) allocates Rp500 billion fund for property business next year.
It will build apartment, warehouses, and storehouses. The company will develop its 11 hectares area land in Cibitung, Bekasi, West Java.
The construction will start in third quarter of 2015 and is expected to finish in 2017. The sales of the said property unit is estimated to reach Rp400 billion.
MRAT targets to book revenue of Rp485 billion this year. It has booked revenue of Rp293.8 billion in first nine months of 2014. For next year, the company targets its revenue to grow by 40% to Rp672 billion.