Mon, 21 Mar 2011

From: The Jakarta Post, Jakarta

State toll way operator PT Jasa Marga is gearing up to enter the property sector this year, and says it has prepared Rp 150 billion (US$17.1 million) for the early investment.

Jasa Marga managing director Frans Setiyaki Sunito said recently the company wanted to utilize the toll roads it had constructed in developing the property business.

“We’re looking for areas that can benefit from toll road gates. We can develop properties not far from them,” Frans said.

“Development can be in the forms of housing, office complexes or industrial areas; depending on the needs of the regions concerned,” he said as quoted by on Sunday.

Frans added Jasa Marga would partner with state airport operator PT Angkasa Pura and state port operator PT Pelindo, among others, to develop the new business.

He also said Jasa Marga was currently in the process of designing the property business plan. He said it was preparing to open a subsidiary and had commenced the land acquisition process in a number of regions including Greater Jakarta areas, West Java and East Java.