Pudjiadi to develop four new projects<\/p>\n
JAKARTA (JP): Publicly-listed property developer PT Pudjiadi
\nPrestidge said yesterday that it will start the construction of
\nfour new projects by the end of this year, including a satellite
\ncity, Kota Serang Baru, in Serang, West Java.<\/p>\n
Pudjiadi's newly-elected president, Kosmian Pudjiadi, told
\njournalists after an annual shareholders meeting here that the
\nplanned satellite city will be built on an area of 200 hectares
\nwith an investment of Rp 500 billion (US$212.5 million).<\/p>\n
\"We will build 100,000 low-cost and middle-scale houses, a
\ngolf course and a trade center,\" Kosmian said.<\/p>\n
The second project is the expansion of Pudjiadi's Villa
\nMarbella in Anyer, West Java, on a 70-hectare site. The company
\nwill build 4,000 villas, a golf course and a recreation and
\ncultural center at an expected total cost of Rp 250 billion.<\/p>\n
The third project is the third phase of the Kondominium Hotel
\nMarbella Anyer project. This involves the construction of 400
\ncondominiums at a cost of Rp 94 billion.<\/p>\n
Third phase<\/p>\n
\"The last project is the third phase of the Manara Kelapa
\nGading apartments, which will cost Rp 70 billion,\" Kosmian said.
\n\"We will build 300 apartments.\"<\/p>\n
He said that a large part of the funds to finance the four
\nprojects will be raised from bank loans.<\/p>\n
Kosmian also said that for this year the company expects a 30-
\npercent increase in net sale revenues, to Rp 100 billion, and a
\n10-percent rise in net profits to Rp 23 billion.<\/p>\n
Pudjadi recorded an increase in sales of 6 percent to Rp 73
\nbillion last year and a 3 percent increase in net profits to Rp
\n21 billion.<\/p>\n
Kosmian also said that because of a change in its accounting
\nsystem, the company could not include about Rp 50 billion of its
\nsales revenues in its 1995 revenues. (alo)<\/p>",
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"sponsor": "Okusi Associates",
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