Bangun Cipta Group starts constructing Semanggi Tower House

JAKARTA (JP): PT Arthaguna Saranapratama, a subsidiary of the Bangun Cipta Group, will start the construction of Semanggi Tower House on April 20, according to the company's president.

The apartments are intended for middle income tenants.

Meilono Soewondo told newsmen yesterday that the price of its 330 apartment units will run between Rp 90 million (US$41,918) for a one-bedroom apartment to Rp 470 million ($218,910) for a three-bedroom apartment.

He said that the down-payment on the apartments, to be built on 1.5 hectares of land nearby Jl. Gatot Soebroto, amounts to 30 percent of the prices. The remainder will have to be paid upon the completion of construction in 1996.

Bank Tabungan Negara, a state-owned bank, and two private banks -- Uni Bank and Bank Papan Sejahtera -- are ready to arrange housing loans for buyers, he said.

Meilono said that around 240 prospective buyers have contacted his office.

Arthaguna is 57 percent owned by Bangun Cipta Group, a property developer, 20 percent by PT Sari Kebon Jeruk, also a property developer, 18 percent by businessman Okky Chandrawinata and five percent by businesswoman Diah Perwitasari.

Meilono said the apartments' construction would cost Rp 70 billion, of which 70 percent will be financed by a national private bank and the remaining 30 percent by Arthaguna.

Responding to newsmen's questions about the building permit (IMB) for the apartments, Eva Silvyana, the apartment's project officer, said that the company will go ahead with its construction schedule since the project has acquired a provisional building permit. The IMB issuance is expected next month. (03)