Ciputra to build luxurious apartment complex soon<\/p>\n
JAKARTA (JP): PT CitraLand Liang Court, a joint venture
\nbetween PT Ciputra Development, a national property company, and
\nLiang Court, a Singapore property company, will start the
\nconstruction of a posh apartment complex, CitraLand Regency
\nApartment, on June 24.<\/p>\n
The company's president, Candra Ciputra, said yesterday that
\nthe ground breaking ceremony for the US$85 million apartment
\nlocated on Jl. Dr. Satrio, Central Jakarta, will be attended by
\nState Minister of Investment\/Chairman of Investment Coordinating
\nBoard (BKPM) Sanyoto Sastrowardoyo.<\/p>\n
According to Candra, the apartment will have two 24-story
\ntowers. The first tower will have 142 units while the second one
\nwill have 163 units.<\/p>\n
Harun Hajadi, the company's marketing director, said that all
\nunits in the first tower are salable while those in the second
\ntower are for rent only.<\/p>\n
The towers' interior design is handled by Cadiz Design Group
\nof Singapore with the assistance from the Indonesian design firm,
\nCipta Graha Hadiprana.<\/p>\n
The construction of the first tower is expected to be
\ncompleted in December of next year and the second one in March
\n1996.<\/p>\n
He said the selling prices of the units range from $296,628
\nfor a 120-square-meter standard apartment to $1.75 million for a
\n704-square-meter penthouse.<\/p>\n
\"Prospective buyers are required to pay Rp 5 million ($2,316)
\nin booking fees and ten percent of the apartment price as a down
\npayment,\" he said.<\/p>\n
Harun estimated that the towers will be sold out before their
\ncompletion because 44 units have already been sold.<\/p>\n
Responding to a question concerning the building licenses,
\nPiek Mulyadi, the company's director, said that the company has
\nobtained all the required documents.<\/p>\n
He also said that the presence of the apartment will not bring
\nnegative social changes to its surroundings since the project
\nsite was allocated for a superblock development during the
\ngovernorship of Wiyogo Atmodarminto from 1987 to 1992.<\/p>\n
Candra said that the 1.1-hectare apartment project is part of
\na 13.5-hectare superblock named CitraLand Golden Triangle, a
\ncomplex which will consist of office towers, hotels, shopping
\ncenters and recreational spots. This complex is also owned by
\nCiputra Development.<\/p>\n
The apartment is 51 percent owned by Ciputra Development and
\n49 percent by Liang Court Holdings of Singapore. (03)<\/p>",
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