Sudirman project offers lots

Sudirman project offers lots

JAKARTA (JP): PT Danayasa Arthatama, a company developing the
Sudirman Central Business District (SCBD) in South Jakarta, will
participate in next week's Hannover Fair '95 to invite
international investors to erect buildings on its 'superblock'.

"We will offer 17 of our 25 lots in the SCBD to international
investors attending Hannover Fair '95 in Germany between April 2
and April 8," the company's president, Nasroel Chas, said on
Tuesday.

Danayasa Arthatama, a wholly-owned subsidiary of the publicly-
listed PT Jakarta International Hotel Development, will be one of
about 100 Indonesian companies to take part in the fair, which
will be jointly opened by President Soeharto and German President
Roman Herzog.

Nasroel said that eight buildings were currently being
constructed in the SCBD, the first superblock to be developed in
the city: the Jakarta Stock Exchange Building, Bank Artha Graha
Tower, Casabella Court Apartments, Jakarta Financial Tower,
Jakarta Conrad Hotel, Jakarta Omni Hotel, Jakarta Twin Tower and
a hospital.

"On the 17 lots, each with an area of between 6,000 square
meters and 2.58 hectares, investors may establish office
buildings, shopping centers, apartments, hotels or any other
business facilities," he said.

He said investors could enter into joint ventures with
Danayasa Arthatama in establishing a property on the superblock.

His company would use the land it has developed as its equity
participation in such joint ventures, he said.

Nasroel said that 30 percent of the 45-hectare business
district had been set aside for the development of
infrastructure, 80 percent of which had already been completed.

He estimated that the development of the business district
would cost almost US$3.6 billion and would take 17 years. (riz)