JAKARTA (Yosefardi) – Investors focus selling property stocks this morning, mostly in shares Lippo Karawaci and Alam Sutera.
Lippo Karawaci fell 3.77% while Alam Sutera declined 1.89%. Others; Pakuwon Jati (-1.75%), Agung Podomoro (-1.85%), Sentul City (-2.09%), Bumi Serpong Damai (-0.79%), Ciputra Development (-2.27%), Ciputra Property (-1.32%), Intiland (-1.67%), and Modernland Realty (1.45%).
Bisnis Indonesia reported this morning Pollux Properties Ltd, an Indonesian company based in Singapore, partnered with Posco E&C from South Korea, plans to launch property project worth US$500 million in Indonesia. Both companies scheduled to sign joint development corporation today.