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Astra Launches Line Of Business Property

Benchmarknews, Jakarta Oct 27 – PT Astra International launched the seventh line of business in the field of property as part of business expansion plans Astra continued ahead of a business trip that would step on the 60th year.

The seven business lines it completes the six business lines Astra, namely automotive, financial services, heavy equipment and mining, agribusiness, infrastructure, and other logistics and information technology.

“This new business lines do not intend reducing other lines of business,” said Chief of Astra Property PT Astra International Tbk David Iman Santosa, here on Wednesday.

David says, the Astra’s business lines have the patterns and cycles that are different from each other. Thus the presence of lines of business of this new property, he continued, are expected to be able to work together with six other businesses so that they can co-exist.

“Revenue source is estimated to be more stable,” he said.

Study of the Astra’s business has started with research about the requirement and the estimated property developments in Indonesia for decades to come. Construction of the Tower of Astra and three residential towers located in 2.4 hectares land in jalan Sudirman is the marker property implementation in Astra.

The two projects cost Rp8 trillion it started construction in the first quarter of 2014 and is expected for completion in early 1999. The third apartment is named Anandamaya has sold 91.35 percent of the 509 units offered.

Some other embodiment of the property business was the establishment of PT Astra Astra Land Indonesia (ALI) and the signing of the formation of a joint venture between ALI and PT Mitra Sindo Makmur, a subsidiary of PT Modernland Realty Tbk, to acquire and develop an area of approximately 70 acres in East Jakarta worth Rp3,4 trillion. ASTRA is also currently preparing a housing project in the area of Simatupang…(Red)

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