PT MNC Land Tbk, a property developer in Indonesia, plans to spend $2 billion to $3 billion in the next 20-30 years to develop a lake resort and golf course in Sukabumi, West Java.
Construction on the 2,000-hectare land will start in August, said Hary Tanoesoedibjo, CEO of the company. MNC Land will build hotel, villas, theme park and other supporting facilities on the site.
The company will spend $400 million for the first phase of the development, said Darma Putra, a director at MNC Land. (Investor Daily)
Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Jakarta Newsroom)