Gapuraprima to build hotels, apartments next year
Publicly listed property company PT Perdana Gapuraprima, founded about 30 years ago by property businessman Gunarso Susanto Margono, will focus on the development of five projects, including office and residential projects as well as apartments and hotels, in Jakarta and Greater Jakarta next year.
The first project is to finish the construction of Gapuraprima Plaza, an office and apartment complex located in Slipi, West Jakarta. Gapuraprima Plaza is built on a 5,000- square-meter plot and will have 23 stories. Perdana Gapuraprima has commissioned PT Wijaya Karya to construct Gapuraprima Plaza
“We have already built the basement. We hope that we will have finished all of the construction by the end of 2012 and will be able to start handing over the office and apartment units in early 2013,” Perdana Gapuraprima’s director Arief Aryanto said on Tuesday.
The company’s second project next year is to finish the construction of the third tower of apartments in Kebagusan City in the Jl. TB Simatupang area of South Jakarta. Arief said two towers had already been completed and work on the last tower was currently in progress. The apartment complex covers 30,000 square meters of land.
Arief said that Kebagusan City was part of Perdana Gapuraprima’s efforts to support the government program of building 1,000 towers of affordable apartments. The company offers residential units in Kebagusan City, aimed at middle income families, at an affordable price of Rp 6 million per square meter.
The company’s third project involves converting several units of apartments in The Belezza Permata Hijau into hotel rooms. The company, he said, aimed to operate up to 1,000 hotel rooms in its residential projects by 2013. Another apartment-to-hotel conversion project is also planned for its property in Serpong business district, making it the company’s fourth project for 2012. Both conversion projects are expected to yield 300 rooms.
“We want to have more hotel rooms to anticipate developments in this area. For example, CBD Serpong’s location is only about one kilometer from Soekarno Hatta airport, which will develop Terminals 4 and 5,” Arief said.
The final project the company wants to work on next year is the development of houses and facilities in Bukit Cimanggu city in Bogor and Metro Cilegon in Banten.
Arief revealed that his company planned to set aside up to Rp 270 billion (US$29 million) out of total capital expenditure next year of Rp 417 billion to finance all these projects. Gapuraprima Plaza will account for Rp 70 billion; Kebagusan City, Rp 60 billion; Bellezza, Rp 20 billion; CBD Serpong, Rp 50 billion and Bukit Cimanggi City — Metro Cilegon, Rp 70 billion.
The company’s finance director Amin Maulana said that the expenditure would be funded by cash reserves and bank loans.
“We have financing facilities amounting to Rp 150 billion from Bank Mandiri and BNI,” Amin said.
Perdana Gapuraprima is 69.29 percent owned by real estate management and development company PT Citra Abadi Kota Persada, 15.45 percent by Kuwaiti International Leasing and Investment Company KSC and 15.26 percent by the public. (rcf)