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