PT ASTRA INTERNATIONAL TBK / ASII - JAKARTA. Astra International Tbk (ASII) continues to develop property business units. In the first quarter, ASII disbursed Rp 291 billion in fresh funds for this business.
"We will use this fund as capital expenditure related to the property business development plan," said Astra International Head of Corporate Communication, Boy Kelana, Tuesday (2/7). This year, Astra has budgeted capital expenditure of Rp 27 trillion to Rp 30 trillion.
ASII will develop several property projects, including Asya and Arumaya residential projects. There is also a Resta Pendopo 456 rest area project in Semarang, Central Java.
At the Asya project, Astra has begun to build two clusters of site houses in Jakarta Garden City (JGC), East Jakarta. "The two clusters are Semayang and Matana clusters," Boy said.
ASII built the Asya project on an area of 70 hectares (ha). In this area, there are Mayapada hospital facilities, education centers, and IKEA and AEON Mall. To develop this prestigious region, Astra spent Rp. 23 trillion.
The Arumaya project is currently still in the bidding stage. "Since March last year," Boy said. He did not specify the value of the investment and the revenue target of the ASII project with Hongkong Land.
In the first quarter of Astra's financial statements, the ASII property segment contributed Rp 142 billion from Astra's total revenue in the period. That value is around 2.38% of Astra's total revenue of Rp. 59.60 trillion.
In the Resta Pendopo 456 rest area project, Astra built to land on 3.3 hectares of land. The value of Astra's investment in this location reaches Rp 200 billion. "We hope the rest area can start operating in December 2019," Boy explained.
Contributions from the ASII property sector have not been significant. "Our focus today is to build a strong and solid foundation, and strengthen the brand and reputation as a property developer," Boy said.
