IBRA to invite tenders for BCA building today
IBRA to invite tenders for BCA building today
JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA)
will open the international tender sale of Wisma Bank Central
Asia (BCA) office building from July 18 to Aug. 23, according to
the agency asset disposal division head Dasa Sutantio.
Dasa said on Tuesday that the one-tier tender sale would be
handled by marketing agent CB Richard Ellis.
He added that the winning bidder will be announced on Aug. 31,
provided all bids received have been evaluated by IBRA.
"This prime property is the first major investment-grade
property to be sold under Indonesia's bank restructuring
program," he told a press conference.
The Wisma BCA building, comprising two modern towers (20
storeys and 10 storeys) with total rentable area of 37,511 square
meters, is located on 10,444 sqm of land in one of Jakarta's
primary business districts.
IBRA said in a statement that current estimates of average
occupancy rates in the Jakarta primary office market is around 75
percent, while the occupancy rate of Wisma BCA as of June was 100
percent of which Bank BCA occupied about 82 percent.
The location of Wisma BCA and its current occupancy rate
guarantee a stable income stream to its future owner, it added.
"For the past 10 years of growth in Jakarta's property market,
en bloc sales of commercial buildings has been a rarity. IBRA is
providing potential investors with a rare opportunity to invest
in one of Asia's major property markets," the agency said.
The Wisma BCA building is one of the assets surrendered by the
Salim Group to IBRA as part of its massive debt repayment.
The proceeds of the sale will help finance the state budget
burdened by the high costs of the country's bank restructuring
and recapitalization programs.
Dasa said potential bidders in the tender would be provided
with pertinent information upon execution of a confidentiality
agreement.
Dasa said that potential bidders would have until August 23 to
complete their due diligence and submit an offer.
"All submissions will be evaluated based on the offer price
and completed terms and conditions stipulated in the tender
documents," he added.
Dasa said that the Wisma BCA sale would be a stimulus for the
agency's future asset sales. (rei)
JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA)
will open the international tender sale of Wisma Bank Central
Asia (BCA) office building from July 18 to Aug. 23, according to
the agency asset disposal division head Dasa Sutantio.
Dasa said on Tuesday that the one-tier tender sale would be
handled by marketing agent CB Richard Ellis.
He added that the winning bidder will be announced on Aug. 31,
provided all bids received have been evaluated by IBRA.
"This prime property is the first major investment-grade
property to be sold under Indonesia's bank restructuring
program," he told a press conference.
The Wisma BCA building, comprising two modern towers (20
storeys and 10 storeys) with total rentable area of 37,511 square
meters, is located on 10,444 sqm of land in one of Jakarta's
primary business districts.
IBRA said in a statement that current estimates of average
occupancy rates in the Jakarta primary office market is around 75
percent, while the occupancy rate of Wisma BCA as of June was 100
percent of which Bank BCA occupied about 82 percent.
The location of Wisma BCA and its current occupancy rate
guarantee a stable income stream to its future owner, it added.
"For the past 10 years of growth in Jakarta's property market,
en bloc sales of commercial buildings has been a rarity. IBRA is
providing potential investors with a rare opportunity to invest
in one of Asia's major property markets," the agency said.
The Wisma BCA building is one of the assets surrendered by the
Salim Group to IBRA as part of its massive debt repayment.
The proceeds of the sale will help finance the state budget
burdened by the high costs of the country's bank restructuring
and recapitalization programs.
Dasa said potential bidders in the tender would be provided
with pertinent information upon execution of a confidentiality
agreement.
Dasa said that potential bidders would have until August 23 to
complete their due diligence and submit an offer.
"All submissions will be evaluated based on the offer price
and completed terms and conditions stipulated in the tender
documents," he added.
Dasa said that the Wisma BCA sale would be a stimulus for the
agency's future asset sales. (rei)