Matahari to relocate HQ

The Matahari Group, one of Indonesia's largest retail chains, with 40 stores across the country, will relocate its headquarters from the capital city to Karawaci, a new satellite city near Tangerang, West Java.

In preparation for the relocation, Matahari has bought 108 houses for its employees at the Gading Serpong estate near Karawaci, with loans financed by Citibank, under an agreement signed here on Friday.

PT Jakartabaru, a subsidiary of PT Summarecon Agung, is developing the Gading Serpong estate, complete with public facilities and services, including a 24-hole golf course designed by Graham Marsh. Around 2,000 houses in the area have been completed and sold.

The golf course, being built by Taisei from Japan, is slated to open next September. (vin)