JAKARTA (Yosefardi) – Property developer PT Megapolitan Development Tbk (EMDE) allocates Rp250-300 billion for funding Vivo Sentul superblock project in Sentul, Bogor, West Java, including trade-concept and lifestyle malls.
The project covers 16 hectars land area. In first stage, the company will build trade mall and lifestyle mall. The groundbreaking is expected for early 2015 while the completion is targeted for 2017.
Besides, the company also plans to build Megapolitan Sentul City next year, consisting of residential, apartment, commercial area, mall, education facilities, and place of worship.
This project will cost Rp10 trillion and take 7 years for construction.
EMDE booked net profit of Rp28.4 billion in first half of 2014 on revenues of Rp153.2 billion. Its assets totaled Rp1.13 trillion while liability amounted Rp547.76 billion.