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Selasa, 08 Maret 2011

Summarecon to Acquire 300 Hectars Land This Year - The Indonesia Today

Real-estate developer PT Summarecon Agung Tbk (SMRA) allocates Rp500-600 billion funds to acquire 300 hectars land this year, boosting its land bank to 1,000 hectars from current 700 hectars, Investor Daily reported this morning.
Johanes Mardjuki, SMRA's president director, said the land acquisition is now in the negotiation stage and will be funded by the company's internal cash.

He did not disclose the use of new land acquisition. For the existing 700 hectars of land bank, Johanes said, 600 hectars will be used for property project in Serpong.

Johanes earlier said the company will fund this year's capex of Rp1.5 trillion by loan and internal cash amounting Rp780 billion.

The company has planned to develop Second Phase of Summarecon Mall Serpong (SMS) project which cost Rp400 billion and Summarecon Mall Bekasi (SMB) project with investment cost of Rp500 billion.

Summarecon will also continue working on Menara Satu office building prject which costs Rp160 billion located in Kelapa Gading and Ahmad Yani fly over project in Bekasi with cost of Rp170-200 billion.

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