More owners move into Taman Rasuna

More owners move into Taman Rasuna

JAKARTA (JP): More owners of Taman Rasuna Apartments in
Kuningan, South Jakarta, can move into their new homes as four of
the 16 towers have been completed said the developer.

Santoso Ramelan, president director of PT Catur Swasakti
Utama, said 80 percent of the 953 apartments in the four towers
have been sold. Catur Swasakti is a subsidiary of the Bakrie
group headed by Aburizal Bakrie.

"We're optimistic that we can soon sell the remaining 20
percent," he said after the opening of the new units.

The smallest, one bedroom, apartment measuring 57 square
meters cost Rp 184 million (US$76,095.9). The largest, and most
expensive, apartment has three bedrooms and measures 92-square
meters, it cost Rp 339.2 million.

Santoso said the prices were "affordable" for Indonesians.

He said other apartments sold for around Rp 900 million each,
they were mostly bought by expatriates.

The developer claimed that the 14-hectare 16-tower apartment
complex with 3,850 units was the largest in Southeast Asia.

At a meeting with apartment owners at Sahid Jaya hotel Sunday,
Santoso urged them to check with one another "in case you are
sitting next to your future neighbors". The event included a
symbolic presentation of keys to new owners by Aburizal's mother,
Rosmania Bakrie.

"You will form a residents' organization to set rules
yourselves," Santoso told owners in the packed Puri Agung room.

Santoso said he was sure the apartment market would continue
to improve, which was one reason banks were attracted. The
project is supported by 10 banks.

A source at the company said several of the buyers had bought
their units from other owners. The original owners would have
made at least a 30 percent profit, he said.

The units were initially sold from Rp 125 million to Rp 242
million when the plan was announced in 1993.

A couple of the new owners said they would not live in their
apartment, but would rent it out.

"We will stay there for a while...but we already have
somewhere to live," said a civil servant pensioner. He and his
wife Retno W.S., who works at a private South Jakarta hospital,
were optimistic about rental prospects.

Leasing is allowed once ownership is transferred.

But selling units is only allowed if approved by Catur
Swasakti Utama, Santoso said.

"Approval is mainly needed to regulate price," Santoso said.
"If units are sold too cheap it will give the apartments a bad
image, so we would rather buy them ourselves," he added.

The remaining 11 towers should be completed in the next six
months.

Santoso said some of the owners were expatriates.

Santoso also said office towers would be built on land leased
from the municipality for 48 years. The developer has also
renovated the Sumantri Brodjonegoro sports facilities in line
with an agreement with the city.

Also under construction are a mall and sport facilities. There
will be parking for 4,148 cars. (anr))