JAKARTA (Indonesia Today) – Property developer PT Agung Podomoro Land Tbk (APLN) has acquired 85% stake in PT Tritunggal Lestari Makmur. This new unit will build hotel and commercial building in Bandung, West Java.
The company did not disclose the value of acquisition but said the acquisition is funded by bond proceeds.
APLN has earlier acquired 1 hectares land in Ciumbuleut, Bandung for building apartment for University’s students. The company will build 2 tower of apartments which cost Rp60 billion including land acquisition. (hans@theindonesiatoday.com)