Foreign investors in BSD project

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)