Danamon, Setdco plan Kuningan superblock

JAKARTA (JP): PT Bentala Sanggrahan of the Danamon Group and PT Setdco Graha Mandura of the Setdco Group have set up a joint venture to build an 8.4-hectare superblock in Kuningan, Central Jakarta, with a total investment of US$250 million.

Budi Mardianto, a director of the joint venture company, PT Bentala Mahaya, said the newly established firm would be 60 percent owned by the Danamon Group and 40 percent by the Setdco Group.

He said that the superblock, which would consist of a shopping center, hotel, office buildings, and apartments, would be constructed in two stages.

"First we'll build a 21-floor hotel, a 5-story shopping center, and a 4-level basement on a 5.5-hectare site. For the second stage, we'll construct a 34-floor office building and two 32-floor apartment towers on a 2.9-hectare plot," he said.

"The first stage will be completed in the middle of next year," he said, as reported by the daily Bisnis Indonesia, yesterday. He did not elaborate on when the second stage would be completed.

Budi said that the hotel would be run in cooperation with Okura Hotels of Japan.

The 8.4-ha superblock will be part of the 100-ha international shopping and tourism belt, to be built by a number of developers along the 1.8-kilometer Jl. Dr. Satrio, Kuningan, Central Jakarta.

The other developers, including the Ciputra Group, PT Duta Pertiwi of Sinar Mas Group, PT Hatmoadji dan Kawan (Haka), Jan Darmadi Group, and PT Abadi Guna Papan, are building shopping centers, office buildings, apartments and hotels along the road, which is part of the city's golden triangle. (bnt)