Jaya to build satellite town

JAKARTA (JP): PT Jaya Land, a wholly owned subsidiary of property firm PT Pembangunan Jaya, plans to build a satellite town called Puri Surya in Sidoardjo, East Java.

The company's corporate secretary, Andy Wijaya Teguh, said recently that the town, to be developed in stages over 25 years, would cost around Rp 3 trillion (US$1.25 billion).

He said stage one, on 90 hectares, would cost Rp 120 billion.

He said Puri Surya would cater for the growing number of industrial estates in Sidoardjo.

"We aim to tap the middle and lower class people working in the industrial estates," he said.

PT Jaya Land owns and manages Jaya building on Jl. Thamrin, Central Jakarta, Wisma Bisnis Indonesia in West Jakarta and the Kemang Jaya apartments in Kemang, South Jakarta.

PT Pembangunan Jaya is 40 percent owned by the Jakarta administration and around 50 percent by state enterprises. (09)