JAKARTA (Yosefardi) – Property developer PT Perdana Gapuraprima Tbk (GPRA) issues medium term notes (MTN) worth Rp200 billion for funding acquisition of new property projects, Investor Daily reported this morning.

The MTN has tenor of 3 years and carries annual intrerest rate of 12%.

The company booked net profit of Rp71 billion in first half of this year, jumped by threefold compared to Rp17 billion profit in the same period of last year.

The company plans to acquire 4 in-group projects, in Nusa Dua (Bali), Pondok Indah (South Jakarta) and Ciputat (South Tangerang).

This year, the company focuses on some projects such as Diamond City (Cipayung), Graha Azzura (MT Haryono), Ciawi Superblok (Ciawi), and Radar AURI-Cimanggis (Depok).

In future, the company will add 3 new star-hotels, located in Gatot Subroto street (Central Jakarta), Best Western Mega Kuningan (South Jakarta), and Best Western Serpong (Tangerang).