Property developer PT Agung Podomoro Land Tbk will increase its capital expenditure next year to 6 trillion rupiah, up 20 percent from this year’s 5 trillion rupiah, to finance new projects, the Investor Daily newspaper reported citing deputy president director Indra Wijaya.
The firm will develop two mixed-use developments in South Jakarta and North Jakarta and a land reclamation project in Pluit City in North Jakarta, Wijaya said. Pluit City will be developed on a 160-hectare plot of land.
Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Jakarta Newsroom; Editing by Sunil Nair)