Construction activity

Thank you for publicizing our biweekly Indonesian Property Brief on the central business district (CBD) office market on Wednesday, Feb. 3, under the title "Gloomy outlook forecast for office space market."

But unfortunately there was a mistake in the article regarding construction of new office buildings in the Jakarta CBD.

Our report stated that many planned office construction projects have been put on hold. Only 48,000 square meters of new office space is expected to come on stream in 1999; i.e. Menara Jamsostek (First Phase) and a former Danamon Data Center building. Another 85,000 square meters of new space could potentially be completed in 2000.

DHARMESTI SINDHUNATHA

Corporate Affairs Manager

PT Procon Indah

Jakarta