Surabaya to have fantasy world<\/p>\n
JAKARTA (JP): CitraRaya Surabaya, a Ciputra group subsidiary,
\nwill develop a shopping center and recreational park costing
\nUS$100 million in Surabaya, East Java, the company announced
\nyesterday.<\/p>\n
CitraRaya president director Harun Hajadi said the company
\nwould start building the complex, named Mal & Dunia Impian (MDI)
\nCiputra CitraRaya Surabaya, next April. It is scheduled to be
\ncompleted in 1999.<\/p>\n
It will be built at the CitraRaya Surabaya housing estate,
\nwhich is now under construction. The company expects to develop
\nabout 25,000 luxury houses at the estate.<\/p>\n
The recreational park, to cost $40 million, is to be developed
\non 20 hectares. The shopping center is projected to cost $60
\nmillion.<\/p>\n
The recreational park is being designed by DUELL Corporation
\nof the United States based on a similar concept to Dunia Fantasi
\n(fantasy world) park in Ancol, North Jakarta, Harun said.<\/p>\n
In the project's first phase, the park will cover nine
\nhectares and feature a rapid river, bumper cars, giant ferris
\nwheel, carousel, boat swing, roller coaster, children's rides and
\ntoy palace.<\/p>\n
The four-story shopping center, to contain 200 shops and a
\nparking lot for 3,000 cars, will also be developed in the first
\nphase.<\/p>\n
Ciputra, Ciputra group's founder, said the complex was
\ndesigned as a tourism and shopping belt, like on Jl. Dr. Satrio
\nin Kuningan, Jakarta.<\/p>\n
\"There will be an ample sidewalk along the 1.5-kilometer-long
\nstreet within the complex to make people feel comfortable walking
\nalong the street,\" he said.<\/p>\n
Ciputra Group has started developing part of the
\n1.8-kilometer-long Jl. Dr. Satrio to become what it calls a
\nshopping and tourism belt, resembling the famous shopping centers
\non Orchard Road in Singapore, Champs Elysee in Paris, Fifth
\nAvenue in New York and Rodeo Drive in Los Angeles.<\/p>\n
\"The plan is supported by Jakarta governor Surjadi Soedirdja
\nand Minister of Tourism, Post and Telecommunications Joop Ave,\"
\nhe said.<\/p>\n
Candra Ciputra, president director of PT Citraland Adigraha, a
\nCiputra group subsidiary, said PT Citraland, in a joint venture
\nwith Liang Court Holdings of Singapore, had built the Apartemen
\nCitra Regency apartment building on Jl. Dr. Satrio.<\/p>\n
PT Citraland, in a joint venture with Hong Kong's Peninsula
\nGroup and Singapore's NatSteel, is now developing a mall and two
\nhotels, Peninsula and Ciputra hotels, on the street with an
\ninvestment of $500 million.<\/p>\n
Some $260 million of this is being financed by a syndicated
\nloan from five foreign banks, with Hongkong and Shanghai China
\nBank as the syndicate's lead arranger.<\/p>\n
The mall and hotels are scheduled to open in 2000.<\/p>\n
PT Citraland plans to develop four hotels, two malls, two
\napartment buildings and five condominium buildings on its 13.5
\nhectare site on Jl. Dr. Satrio. The total development requires an
\ninvestment of $1.8 million. (jsk)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/surabaya-to-have-fantasy-world-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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