Oasis Square project to be started next month

JP/3/OASIS/0

Oasis Square project to be started next month

JAKARTA (JP): A real estate developer will start the construction of the Oasis Square project, an integrated complex of apartments, offices and a hotel in Senen area, Central Jakarta, in July.

"The strategic location of the complex which lies in the heart of Jakarta could be a strong reason for Jakartans to choose the apartments as their homes," Yan Mogi, president of PT Sumbermitra Sarana Realtindo, said Wednesday.

The Rp 250 billion (US$116.2 million) project on a three- hectare area will have four 24-story apartment towers, a 16-story office building and a 16-story three star-rated hotel with 250 rooms.

The company, which is 70 percent owned by the municipal construction company PD Sarana Jaya and 30 percent by PT Sumber Mitrarealtindo, aims to sell the apartments to the upper middle- class community.

The apartment units, measuring between 98.5 and 116 square meters with two or three bedrooms, will be located from the fifth to the 19th floors, he said. The smaller units of between 63.5 and 69 square meters, will be on the second and third floors, he added.

There will also be penthouses on the 23rd floor, Mogi said.

Prices will range between Rp 2.7 million and Rp 3.4 million ($1,255 and $1,581) per square meter, he said, adding that the prices are quite reasonable in view of the location and the facilities provided.

The facilities offered include a fitness center, tennis courts, swimming pools, a mini market, clinics and a drugstore, playgrounds, a cafeteria, parking space and a round the clock security service.

The first phase of the construction, which will be completed in June 1996, will only cover three apartment towers with 474 units of various types and the office building. By then, about 70 units of office spaces, measuring between 136 and 327 square meters, will be available, he said.

The company will start the hotel construction in 1995, said Mogi. (05)