JAKARTA (Indonesia Today) – Property developer PT Modernland Realty Tbk (MDLN) is seeking loan of Rp500 billion for funding land acquisition, Investor Daily reported this morning.
Freddy Chan, MDLN’s fiannce director, said the company is now studying to raise fund from bond issue or bank loan.
The company had earlier said it plans to add 1,000 hectares of bank land within next 5 years. Early this year, it had acquired 400 hectares land in Cikande, Serang, Banten at a cost of Rp246 billion. (hans@theindonesiatoday.com)