INDONESIA PRESS-Lippo Cikarang to develop central business district in Cikarang-Investor Daily

Sun Apr 6, 2014 9:50pm EDT

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Property developer PT Lippo Cikarang plans to develop a new central business district on 300 hectares of land in Cikarang, Bekasi, a satellite city of capital Jakarta, with an initial investment of 1.5 trillion rupiah ($132.55 million), said CEO Meow Chong Loh.

Construction will begin this year and the development will continue for the next 20 years. The firm currently owns a total of 3,000 hectares of land in the area, which is known as a manufacturing and industrial hub. (Investor Daily)

Note: Reuters has not verified this story and does not vouch for its accuracy.

($1 = 11,316.5 Indonesian rupiah) (Compiled by Jakarta Newsroom; Editing by Anupama Dwivedi)