Bhuwanatala to build office building in S'pore<\/p>\n
JAKARTA (JP): PT Bhuwanatala Indah Permai, a property company
\nwhich operates two shopping centers in Bandung, will establish an
\noffice building in Singapore and a five-star hotel in the West
\nJava capital, the firm's president Heru C. Pramono said
\nyesterday.<\/p>\n
\"The seven-story office building on Beach Road at the Bugis
\njunction in Singapore will cost S$72 million (US$$50.6 million),\"
\nHeru said, adding that it is scheduled to be ready in mid-1997.<\/p>\n
He said Bhuwanatala Indah Permai owns 70 percent of the office
\nbuilding project and the other 30 percent is owned by a local
\npartner, Leisurebilt Pte. Ltd.<\/p>\n
\"Our company plans to invest Rp 90 billion ($39.4 million) in
\nthe hotel project in Bandung,\" said Heru.<\/p>\n
He added that Hyatt International will operate the 256-room
\nhotel which is now under construction on Jl. Aceh in the Bandung
\ndowntown area.<\/p>\n
The Hyatt Pakunegara hotel project is wholly owned by
\nBhuwanatala Indah Permai and is expected to be opened in Jan.
\n1997.<\/p>\n
The shopping centers owned and operated by Bhuwanatala Indah
\nPermai are the Bandung Indah Plaza 1, located on Jl. Merdeka, and
\nthe Bandung Indah Plaza 2 on Jl. Sumatra.<\/p>\n
Bhuwanatala Indah Permai yesterday listed 40 million shares on
\nthe Jakarta Stock Exchange. The shares, which were previously
\ntraded in the over the counter market, closed with a price of Rp
\n1,300, up from Rp 875 in the over the counter market.<\/p>\n
Bhuwanatala Indah Permai was established in December 1981 as a
\njoint venture company between the West Java administration and
\nprivate parties. Former governor of Jakarta Wiyogo Atmodarminto
\nis chief commissioner of the company. (kod)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bhuwanatala-to-build-office-building-in-spore-1447893297",
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"sponsor": "Okusi Associates",
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