Markets to become real estate

Markets to become real estate

JAKARTA (JP): City-owned market company PD Pasar Jaya will
convert some of its poor-performing markets into low-cost
apartments, according to the firm's president, Albert Napitupulu.

Albert said over the weekend that the plan was meant to
optimize Pasar Jaya's assets instead of leaving the markets
vacant for years.

"What are the markets for if business there is poor and only a
few people go there? That's why we don't want to just keep them
vacant," he said in a ceremony to mark the 31st anniversary of
the firm.

However, Albert could not disclose which of the company's 152
markets in the city would be closed and converted into
apartments.

"We haven't named which markets we will convert," he said.

Based on data from Pasar Jaya, 7,119 of 47,733 kiosks in its
152 markets are still unoccupied.

Albert said the large number of unused kiosks was mainly due
to the mushrooming growth of modern markets being developed near
the traditional markets run by Pasar Jaya.

The huge number of empty kiosks at Pasar Jaya markets have
often been criticized by some city councilors as a waste of the
city budget.

Tarman Azzam of Commission B for economic affairs said: "There
are vacant kiosks in almost every market, which have cost the
city billions of rupiah."

Another councilor, Lukman Mokoginta of Commission D for
development affairs, supported his colleague's remarks.

Lukman said the large number of idle kiosks proved the bad
planning and management of Pasar Jaya executives.

"It shows at least that their choice in location for the
markets was wrong," he said.

Both councilors, therefore, agreed with the firm's plan to
convert the poor-performing markets into apartments.

"But the move should first be permitted by the council,"
Tarman said.

In an attempt to avoid further problems, Albert urged the city
to issue a regulation which would determine a reasonable distance
between modern and traditional markets.

"The administration, thus far, has not determined the distance
yet," he said.

Albert also planned to create something in traditional markets
which would attract more visitors.

"Besides continuing efforts to make the markets cleaner, we
would also like to continue to develop something new, such as a
special market for fruits and flowers, to be able to compete with
modern markets," he said.

Albert said that some time ago traditional markets were also
famous for their lower prices, but that was no longer the case.

"It's because traders can't get their merchandise directly
from primary sources," he said.

Traditional markets have also been "defeated" by modern
buildings because many supermarkets and malls could be found at
housing complexes where sometimes it was difficult for residents
to go to traditional markets, Albert said. (ind)