PT Rajawali To Star Business In Property Sector

Jakarta, Oct 13 (Antara) - PT Rajawali Nusantara Indonesia (RNI) will expand business operation to the property sector by building a hotel and an RNI tower in Jakarta and Cirebon, West Java. The two big projects would mark the start of RNI as new player in the property business," Ismed Hasan Putro, president of the state company said here on Sunday. RNI already have business units operating in agribusiness, pharmaceutical, and bottled drinking water industries and in trade . Ismed said the office building and the 3-star hotel to cost around Rp500 billion are to be operational in 2016. The projects are planned to make use of the company`s land assets which have been left idle so far, he said. "Property assets such as lands should not be left idle when they could be utilized to contribute to the income of the company," he said. He said the office building and hotel are expected to contribute Rp430 billion a year to the total revenues of the company The RNI tower will be built over a 7,025 square meter plot of land in Cawang, East Jakarta to cost Rp490 billion. It will have 18 floors with 7 floors for office rooms and the rest as hotel. The hotel to be built in Cirebon will occupy a 1,587 square meter plot of land to cost around Rp42 billion. It will be a 6 floor building with 100 rooms.