Tigaraksa offer for investors

Tigaraksa offer for investors

TANGERANG (JP): The Tangerang Regency Office has opened
Tigaraksa, the regency's future capital, to developers to speed
up relocation, which has been delayed for 11 years, an official
said over the weekend.

Chairman of the Regional Development Planning Agency, Agus
Rachmat, said Saturday the offer was made following the
cancellation of a contract between the regency office and the
appointed developer for Tigaraksa, PT Panca Wiratama Sakti (PWS),
as of July 25.

Agus hoped that five major developers, who had proposed their
participation in the massive 3,000-hectare project before the
monetary crisis hit the country last year, would still have an
interest.

"We hope that at least one of them wants to continue with
their proposal," he said.

According to Agus, the five developers included PT Lippo
Karawaci, PT. Bumi Serpong Damai, PT Alam Sutera Realty and PT
Citra Raya, all of which have developed housing complexes in
nearby areas.

He refused to name the fifth one.

Separately, regent Agus Djunara told the media Saturday that
there would be a lot of work that could be done by developers in
the Tigaraksa capital zone.

"So, don't be worried," he said, giving no details.

According to Agus Rachmat, the regency office ended its
contract with PT PWS because the latter had failed to comply with
its agreement.

PWS, he said, had only completed 60 percent of the overall
development of the Tangerang regency's new office. The
construction was expected to be completed in March, 10 years ago.

"We have reminded them many times but received no response,"
he said.

The relocation of all administration activities has been
planned since 1987.

The development of buildings at Tigaraksa was mostly financed
by the local administration.

Out of the planned 3,000 hectares, only 800 hectares had been
developed by PWS.

The regency office, therefore, plans to offer the remaining
1,200 hectares to other interested parties. (41/ivy)