Property developer PT Agung Podomoro Land plans to acquire 10 hectares of land in East and North Jakarta in the near future, with a total investment of up to 1 trillion rupiah ($87.5 million), said co-CEO Indra Wijaya, adding that it would develop apartments on the site.
Agung also plans to buy a 50.01 percent stake in PT Caturmas Karsaudara, worth 18 billion rupiah. Caturmas currently owns Plaza Kenari Mas shopping center in Central Jakarta.
Agung booked marketing sales of 1.83 trillion rupiah in the first quarter of this year, up 6 percent from last year, which represents 28 percent of its 2014 full-year target of 6.5 trillion rupiah. (Kontan)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11430 rupiah) (Compiled by Jakarta Newsroom; Editing by Gopakumar Warrier)