Properindo leases to expatriates

Properindo leases to expatriates

JAKARTA (JP): City-owned property developer PT Sarana Wisesa
Properindo officially offered expatriates on Tuesday the
opportunity to lease 12 upmarket houses, a move aimed at giving
the city an infusion of cash.

The fully furnished houses stand on a 3.7-hectare plot and are
located on Jl. Pejaten Raya in Pasar Minggu, South Jakarta. The
houses also come with a 24-hour security service.

"We are offering two types of houses to our customers. First
are four 250-square-meter houses and the second are eight 350-
square-meter houses," company director Dede Chatab said during a
media conference at the housing estate.

"The rental price varies from US$1,000 to $1,500 (a month)
depending on the type (of house) and the length of stay. We
require a minimum stay of six months," he said, adding that
tenants could specify how they wanted their house furnished.

The rental fee includes the service charge, but excludes
electricity, water and telephone.

Dede said the estate would be further developed and more
facilities would be added to attract tenants.

"Currently, there is already an indoor sports hall and 24-hour
security service. We'll build a clubhouse and a swimming pool to
give more amenities to our tenants," he said.

The estate was initially intended to house the city's high-
ranking officials, but because most of the officials owned their
own houses in the city none of them moved to the estate.

City councillors on Commission B on economic affairs then
suggested the administration find a way to utilize the estate.
The administration transferred the estate to land developer PD
Sarana Jaya in 1999 on condition it not sell the houses.

PD Sarana Jaya, whose core business is land financing,
subcontracted the estate to its affiliated firm PT Sarana Wisesa
Properindo.

"Leasing the houses is one of our efforts to increase our
revenue, because the city administration cannot provide cash for
its companies anymore. Instead, the companies are required to
contribute more to the city budget," PD Sarana Jaya president
Hari Sanjoyo said at the conference.

"And since it's not our core business, we had to set up a
subsidiary to handle the business," he said.

PD Sarana Jaya is preparing to begin work on several other
projects in the near future.

"We'll renovate and revitalize Kebayoran Plaza on Jl. Kyai
Maja to become a sales center for computers and computer
accessories. It will cost some Rp 30 billion to Rp 40 billion,
with construction starting next year," said Hari.

Hari also revealed his company had set up an information
technology company, PT Inti Data Sarana, as a way of diversifying
its business.

"PT Sarana Wisesa Properindo is cooperating with web developer
PT Kepstra to establish the new company. So technically the new
company is my 'grandchild,'" he said with a laugh.

"We will establish websites for all city-owned and jointly
owned companies to increase our competitiveness in anticipation
of the open market," he said.

The president of PT Inti Data Sarana, Adil P. Mangkusubroto,
said his company would be involved in a variety of activities
besides web development.

"We'll also be involved in front-end and back-end development
activities of local area networks, metropolitan area networks,
wide area network integrator systems, training as well as
maintenance," he said. (nvn)