Jan 17, 2012

Global Land in aggressive expansion

Property developer PT Global Land Development Tbk, that is controlled by Bambang Hary Iswanto Tanoesoedibjo, aims to allocate Rp2,86 trillion to underpin developing new projects.
Global Land Director Daniel Yuwono said several projects that will be constructed by the company is Seputar Indonesia building worth Rp35 billion-Rp40 billion, MNC News building worth Rp450 billion-Rp500 billion, and MNC Financial Center worth Rp200 billion-Rp225 billion.
"We also plan to establish building and new studio for RCTI Television at Kebun Jeruk, West Jakarta, with an investment of Rp750 billion, a news center of Rp900 billion-Rp1 trillion, a new building for Indovision worth Rp200 billion-Rp250 billion," he said as quoted by Bisnis Indonesia today.
He is optimistic that Global Land will construct all those projects this year and complete next year. To support those aggressive expansion, the company will spend Rp1.5 trillion-Rp2 trillion capital expenditure.

Disclosure: No position at the stock mentioned above.  

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