Tangerang expect bigger revenues

Tangerang expect bigger revenues

TANGERANG: Despite a sluggish property business during the
prolonged economic crisis, the Tangerang regency announced on
Sunday it expected increased revenues from the collection of
building permit issuances this fiscal year.

The head of the Tangerang regency's building agency, Adil
Darmawan, expressed confidence that an increasing number of
developers would apply for permits to enable them to build or
rebuild properties in the area.

"The target in the collection of fees from the building permit
issuance this 1998/1999 fiscal year is Rp 1.5 billion
(US$180,000). Up to last month we had already earned Rp 1
billion," he said.

Adil explained that his confidence was based on the widely
diversified Lippo Group's plan to continue with construction
projects in the area.

Adil also disclosed that major garment manufacturer PT Texmaco
planned to take over the Kota Tigaraksa project, which is
currently being supervised by PT Panca Wiratama Sakti (PWS).

"PWS is regarded as having failed to see through the project,"
Adil said without elaboration.

Adil said PWS and PT Texmaco were still in the process of
negotiating the details of the deal.

The head of the Tangerang regency's planning and development
board, Bunyamin, confirmed that no official notification was
available, but he expected PT Texmaco to settle all the problems,
concerning the completion of the Kota Tigaraksa project, which
was designed as the new capital of the regency.

"I hope PT Texmaco can take over the project as soon as
possible and we're ready to help modify the contract between the
regency and PT PWS," Bunyamin said. (41/emf)