THE REGENT APARTMENT:

THE REGENT APARTMENT:

JP/oby

Minister of Tourism, Post and Telecommunications Joop Ave (center left) and Minister of Investment/Chairman of Investment Coordinating Board Sanyoto Sastrowardoyo (center right) hold spades to mark the groundbreaking of the Four Seasons-Regent Residences condominium at the Regent Jakarta hotel. Four Seasons-Regent Residences managing director David Salim (second left) and Sudwikatmono (far right), a shareholder, watched the ceremony yesterday. David said the four apartment towers, costing US$190 million, would be built on a 2.42-hectare site adjacent to the Regent Jakarta hotel. They would be managed by the Four Seasons-Regent hotel chain. Four Seasons-Regent Residences is 55 percent owned by Indonesia's PT Dewata Wibawa, 25 percent by Nisshi Iwai Corporation, 20 percent by Toyo Real Estate Co. PT Dewata Wibawa is owned by Sudwikatmono, Henry Liem, Irwan Sutisna, Hendra Liem and David Salim. Salim said two towers were scheduled to open in 1998 and two towers in 1999. (jsk)