New concept of residence introduced

New concept of residence introduced

JAKARTA (JP): PT Prima International, a subsidiary of the
property firm PT Midplaza Prima, will introduce an unusual
concept combining apartments and hotel rooms in one high-rise
building in the business area along Jl. Sudirman, Central
Jakarta.

"It's not a new concept, but it will be the first time it is
applied in this city," Midplaza's project development manager,
Teguh Budiono, told The Jakarta Post here yesterday.

He said that the hotel will be on the first to the 12th
floors, while the apartments will be on the 14th to the 36th
floors. "Both the hotel and the apartments, called the Plaza,
will be managed by the Kempinski hotel group of Germany."

Construction began last November while completion is scheduled
for the middle of 1997, he said.

According to Teguh, who refused to answer any questions about
investment costs, his company plans to introduce a different
style of apartments.

"We are focusing on Europeans as our market. That's why we
chose Kempinski," he said, adding that such property can be
found, among others, in Hong Kong and Chicago, the United States.

Kempinski, based in Frankfurt, is partly owned by Dusit of
Thailand, which will also manage a star-rated hotel in the city's
other business area of Mangga Dua.

Teguh also said that Midplaza Prima's subsidiary, PT Karang
Mas Sejahtera, is now also constructing a five-star hotel in
Jimbaran, Bali.

"The hotel, managed by Ritz-Carlton of the United States, is
scheduled to open next year," he said. Karang Mas has just
obtained a US$31 million syndicated loan for the development of
the hotel.

Ritz-Carlton, which manages luxury hotels worldwide, runs
currently only one property in Asia; in Hong Kong. (icn)