New housing project launched

New housing project launched

JAKARTA (JP): Private developer PT Centranusa Persada is establishing an exclusive housing complex called Garden Home Estate in Ciputat, South Jakarta, with an investment of about Rp 65 billion (US$29.54 million).

The housing project, introduced at a launching ceremony at the Shangri-La Hotel in Central Jakarta yesterday, covers 10 hectares of land located on Jl. W.R. Supratman in Ciputat.

PT Centranusa Persada is a joint venture between PT Risjadson Land and PT Sasana Kwarta Putra.

The project will consist of 265 houses sold at between Rp 280 million to Rp 725 million each.

Abdullah Rully, Risjadson's director, said that investing in the property industry still offers greater profits than bank deposits in either rupiah or foreign currencies. "This is because of the continuously increasing prices of land and houses," he said.

The data issued by the office of the State Minister of Public Housing shows that during the last 10 to 15 years, housing complexes ranked the top choice for investment.

Anwar Djohansyah, a commissioner of PT Centranusa Persada, said that the name of the company's housing complex will be changed into Graha Hijau Estate to abide by the government's call for the use of bahasa Indonesia in the names of housing estates and buildings.

He said that the company also plans to build a low-cost housing complex covering 200 hectares in Serang, West Java.

"The plan is in line with the government instruction requiring each developer to build six low-cost houses for every exclusive house the company builds," he said. (31)