JAKARTA (Yosefardi) – PT PP Property Tbk (PPRO) and PT Graha Buana Cikarang, subsidiary of PT Kawasan Industri Jababeka Tbk (KIJA), will set up a joint venture (JV) company which will develop apartment in KIJA’s industrial area in Cikarang, West Java, Investor Daily reported this morning.
PP Property holds 45% stake in JV while Graha Buana has 55% ownership. Currently KIJA has land banks of 5600 hectares in Jababeka, Cikarang. KIJA plans to build 100 integrated cities in its industrial area.
Meanwhile property developer PT Perdana Gapuraprima Tbk (GPRA) booked net profit of Rp32.64 billion in the first half of 2015, jumped 61.4% from Rp20.22 billion in the same period of 2014. Net sales grew by 33.2% to Rp206.5 billion from previous Rp155 billion.