HK Realtindo ITB work on the Tower Project

Cooperation with the Bandung Institute of Technology was expected to cost Rp240 billion.

Development of property projects in Jakarta and surrounding areas gathering popularity. Not only private companies, a number of State-Owned Enterprises (SOEs) also exploit the business opportunities by building residential and office projects.
One of the SOEs in the construction sector, PT Hutama Work, also enjoy delicious fast-growing real estate business in the Greater Jakarta area.
Through its subsidiary, PT HK Realtindo, in addition to the construction of The H Tower - which brought the concept of luxury residential complete with premium facilities including health -, the company is working on the project seven properties during 2011. Most of these residential projects.
President Director of HK Realtindo, Putut Aribowo, said it was working on residential projects located in Cawang Resident H, in the area of ​​Jalan MT Haryono, Jakarta. Apartment units that have 505 units with prices starting Rp8, 5 million per square meter. H Resident investment value reached 190 billion.
"The location is very strategic place, so we are optimistic that the unit will be sold," he said in Jakarta.
In addition, HK Realtindo build a special residential students in the district of Tangerang BSD. Residential-called Kubikahumi with 289 units targeting the international arena in Edutown, with the price of Rp210 million per unit. Students in this area that reaches thousands into major markets.
"The number of students thousands, so it is still very promising," he said.
The third project is a collaboration with PT Aneka Tambang Tbk to make the unit office at Jalan TB Simatupang area with an investment of Rp140 billion. "All units will be leased," he said.
Another project, said Putut, is working with developers to build Enviro Jababeka Apartment. Apartments are planned to be launched later this year.
In addition, PT HK Realtindo cooperate with PT Sejahtera Mine landed residential building in the area Cilangkap as many as 60 units.
The project which was also released this year is the Techno Tower in collaboration with the Institut Teknologi Bandung (ITB). Property development cooperation is expected to spend Rp240 billion investment.
To do seventh project, Putut states have set up funds amounting to Rp600 billion. "Portion is 40 percent of loans, 20 per cent equity and the remaining pre-sales business activities," he said.
For loans from banks, it has received financing commitments from several banks including PT Bank BTN Tbk, PT Bank Bukopin Tbk, PT Bank Mandiri Tbk, PT Bank UOB Buana, PT Bank Jabar Banten, and PT Bank DKI.