Ciputra Group, HK hotel chain to build property complex<\/p>\n
JAKARTA (JP): Hong Kong & Shanghai Hotels (HSH) Ltd. has
\nsigned an agreement with the Ciputra Group, one of Indonesia's
\nleading property developers, to establish a mixed-use property
\ncomplex which will include a five-star Peninsula hotel.<\/p>\n
\"The two parties signed the agreement in June to set up PT
\nCitraland Adigraha, which will set up the project on a 5.4-
\nhectare site on Jl. Satrio in the Kuningan area in South
\nJakarta,\" said Kate Kelly, an HSH spokeswoman.<\/p>\n
She said yesterday that the project, 20 percent owned by HSH
\nof Hong Kong and 80 percent by the Ciputra Group, will be
\ncomprised of a five-star, 400-room hotel, a 100-square meter
\nshopping mall and a 700-room, four-star hotel.<\/p>\n
The 400-room hotel will be managed by Peninsula, the operating
\nand marketing arm of HSH, she said.<\/p>\n
A source at Citraland Adigraha, who asked to remain anonymous,
\ntold The Jakarta Post that the ground-breaking for the mixed-use
\ncomplex will be held early next year. Its construction is
\nscheduled to be completed by 1999.<\/p>\n
He said that the planned four-star hotel and the mall will be
\nmanaged by Ciputra Group, which already runs Citraland Hotel, a
\nfour-star hotel in Grogol, West Jakarta.<\/p>\n
The Ciputra Group is also involved in the construction of twin
\nresidential towers on a site adjacent to the proposed complex.<\/p>\n
HSH, which is listed on the Hong Kong Stock Exchange, has core
\nbusinesses in the management of luxury hotels and prestigious
\ncommercial and residential properties.<\/p>\n
According to Kelly, the company owns and manages the 735-room
\nKowloon Hotel and the 300-room Peninsula Hotel in Hong Kong and
\nthe 242-room Peninsula New York in the United States.<\/p>\n
\"We also manage and participate in the ownerships of three
\nother hotels, the Peninsula Beverly Hills in the United Sates,
\nthe Peninsula Manila in the Philippines and the Peninsula Beijing
\nin China,\" she said.<\/p>\n
She said Peninsula also plans to open another luxury hotel in
\nBangkok, Thailand, in 1997.<\/p>\n
\"We are also considering expanding our business into Malaysia,
\nSingapore, Vietnam and Japan with long-term possibilities to
\ninclude Myanmar, Cambodia and Laos,\" she said. (icn)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ciputra-group-hk-hotel-chain-to-build-property-complex-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}