Shopping center to be expanded

Shopping center to be expanded

JAKARTA (JP): Plaza Indonesia Realty plans to spend US$225
million renovating and expanding Plaza Indonesia's shopping
center and building new apartment and office buildings on an
adjacent site, according to company's project general manager.

Willy Sidharta said that phase one, the renovation and
expansion, would add another 100,000 square meters of floor
space. Phase one is expected to cost about Rp 10 billion.

The second phase includes construction of a 48-storey
apartment building and a 50-storey office building.

Willy said the project was scheduled to start in March and be
completed in the year 2000.

"Management is still selecting contractors which are competing
in a bid for this project," he was quoted by Antara as saying
Thursday.

He said Plaza Indonesia Realty was likely to use its old
Japanese contractor, but that it would have to work with an
Indonesian partner.

Willy said it was now appropriate to renovate Plaza Indonesia
because it was completed five years ago.

"We can see from the experiences of other high-class shopping
malls that a lack of development and innovations to attract
customers can quickly result in bankruptcy," he said. (pwn)