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Home  >>   Daily News  >>Indonesia>>Construction>>Developer seeks loan to construct Arandra Residence
NEWS UPDATES Asean Affairs     March 2, 2017  






Developer seeks loan to construct Arandra Residence

Gamaland, a property developer, is seeking a bank loan to construct Arandra Residence, a five-tower premium apartment project in Cempaka Putih, Central Jakarta. The project is valued at Rp 3.1 trillion (US$232.5 million).

The loan will be partly used to finance the first stage of construction of three out of five towers, Gamaland marketing director Djunadi Satrio said.

“We have received Rp 700 billion in financing commitments from state lender Bank Mandiri to construct the first tower,” he told reporters at a press briefing in Jakarta on Tuesday.

Construction began in September last year and is scheduled to be completed in 2019. The company has appointed six marketing agents to sell 300 apartments in the first tower.

Gamaland, controlled by Martua Sitorus, one of the richest people in Indonesia, has property portfolios in Jakarta, Bandung, Bekasi, Cilegon, Medan, Kubu Raya, Bali and Pekanbaru.



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This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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