PT Nestle to move

JAKARTA (JP): Food producer PT Nestle Indonesia is to move its office headquarters from the Metropolitan II building in Central Jakarta to Arcadia Office Park in South Jakarta in January 1999.

Even though the move is still two years away, the 10-year leasing agreement was signed between executives of the park and Nestle Indonesia yesterday.

"Heavy traffic congestion, pollution and the high office rent in the city's central business district have prompted us to move to a better working niche," the group's president, Steven Issenmann, said after the signing ceremony.

Arcadia is developing five 14-story office towers on a five- hectare plot on Jl. T.B. Simatupang in South Jakarta. The project is expected to be completed in mid-1998.

Nestle is to lease two of the five towers, which will be equipped with facilities such as restaurants, banks, tennis court, pool and fitness center for 10 years. (07)