Jakarta to get world's tallest tower

Damar Harsanto, The Jakarta Post, Jakarta

The fact that Indonesian people have a per capita income of only US$710 per annum according to the World Bank does not appear to embarrass the Jakarta Administration as it pushes ahead with its plan to restart the construction of the 558-meter Jakarta Tower, claimed to be the tallest tower in the world.

The Rp 2.7 trillion (US$314 million) project will stand tall in Kemayoran, Central Jakarta, and will replace the capital's current landmark, the National Monument (Monas), which was built during the president Sukarno era.

The Jakarta Tower will be higher than the 553-meter Canadian National Tower in Toronto, Canada, currently the world's tallest tower.

Jakarta Governor Sutiyoso, accompanied by State Secretary Bambang Kesowo, officiated at the restart of construction on Thursday.

"This large-scale project when completed will become a symbol of pride for Jakarta as well as Indonesia," Sutiyoso said.

He said the construction of the tower was in line with the grand design in the capital's masterplan, which positioned the Kemayoran area as a main center for development.

PT Prasada Japa Pamudja, a consortium of individuals and medium-scale companies, is the sole developer of the project.

However, company director, Ferry Sangeroki, refused to name those involved in the project, saying only that "more than 100 companies and individuals" were participating.

He said the project would be financed in three ways: equity participation (Rp 400 billion), syndicated loans (between Rp 600 billion and Rp 800 billion) and pre-project sales (around Rp 1.3 trillion).

The Jakarta Tower compound will cover a total of 40,550 square meters, comprising a 10,000-capacity convention center, a four- star, 200-bedroom hotel, a 4,000-square-meter education center, 8,000 square meters of office space, a revolving restaurant and an observation deck.

The tower is expected to be open by 2010.

The ground breaking ceremony for the Jakarta Tower took place in 1997 during the time of governor Surjadi Soedirdja and state secretary Moerdiono. The project's developer at that time was PT Indocitra Grahabawana, which was owned by Sudwikatmono, former president Soeharto's stepbrother.

The project had to be suspended due to the 1997 economic crisis, which dealt a severe blow to all sectors, including construction.