Sep 15, 2011

Alam Sutera to buy 2 superblocks

Property developer PT Alam Sutera Realty Tbk (ASRI) plans to expand its business. The developer intends to acquire two superblocks in Jakarta and Bali this year.
Post acquisitions, Alam Sutera expects higher recurring income. "About Rp200 billion in the first stage. We expect to obtain higher than the figure onwards," said Corporate Secretary Hendra Kurniawan as quoted by Kontan daily today. 
The company is construction the first stage of superblock consisting of Mall Alam Sutera, Alam Sutera Office Tower, and Silkwood Residences. Alam Sutera is targeting Rp2 trillion marketing sales.

Disclosure: No position at the stock mentioned above.

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