Property developer PT Metroplitan Kentjana expects to post 1.17 trillion rupiah ($95.6 million) in revenue this year, up 15 percent from last year’s target of 1.02 trillion rupiah, driven by hotel and condominium expansion, said Chief Executive Husin Widjajakusuma.
The company earlier said it plans to spend 2 trillion rupiah on investment to develop Hotel Intercontinental Pondok Indah on a 5-hectare of land in Jakarta and Pondok Indah Residence that are expected to be completed within two years.
Metroplitan Kentjana booked revenue of 721.91 billion rupiah until September 2013, up 14 percent from 631.87 billion from a year earlier.
* Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 12,237.5 rupiah) (Compiled by Rin Hindryati; Editing by Anand Basu)