Foreign investors in BSD project

JAKARTA (JP): French company Carefour and South Korean firm Lotte plan, respectively, to build a large-scale wholesale center and a shopping and recreation center at the Bumi Serpong Damai (BSD) satellite city in Tangerang.

Budiarsa Sastrawinata, president of PT Bumi Serpong Damai, said in a statement yesterday that the construction of Carefour's wholesale center, billed to be the largest in Indonesia, is expected to start early next year.

The project will begin after the 13.1 kilometer toll road linking Jakarta and Serpong has been completed.

Budiarsa said that Lotte's shopping and recreation center, to be named Hyper Mall Lotte World BSD, will be built on a 325,000 square meter plot of land in BSD's central business district.

Preparations for the construction of the center, designed to be the largest in Asia, are currently being made.

In a bid to attract more foreign investors, BSD will take part in an international property exhibition in Singapore later this month, he said.

To date, 15 domestic investors have developed their businesses in BSD.

"The investors have started the construction of their factories and offices," he said. "The projects are expected to be completed within one to two years."

Budiarsa said the 15 investors were: PT Ben Meyer Indonesia, Imperial, PT Bauma Smarti Teknika, PT Abdi Bangsa, PT Dupalindo Perkasa, PT Fielder Asia, PT Paul & Co. Indonesia, PT Festo Indonesia, PT Citra Kharisma Bunda, PT Induktorindo Utama, Hans Johan, PT Yasulor Indonesia, PT Merck Indonesia, PT Dharmawan Wiganda and PT Ega Takelindo Prima.

Budiarsa said the entrance of the 15 private domestic investors had helped raise the self-sufficiency of the satellite city.

"The self-sufficiency rate in BSD has reached about 30 percent at present and is expected to further increase to more than 50 percent within the next two years."

He said that besides industrial investors there were others dealing with services, including Auto 2000 car showroom, Hino vehicle showroom, Bank Danamon, Bank Central Dagang, Central Center Indonesia, German International School and Medika BSD hospital.

The development of the BSD satellite city is expected to be completed in 2014 with a total population of about 600,000, Budiarsa said. (hhr)