Jakarta. Wijaya Karya Bangunan Gedung has begun presales for its Rp 600 billion ($43 million) apartment project in Bekasi, West Java.
Wika Gedung, the property developer unit of construction company Wijaya Karya, is selling 500 apartments in the first tower of a planned three tower project dubbed Tamansari Urbano.
"We hope we can sell all of the apartments by the end of 2015, so we can break ground early next year," Akhmad Ismail, property manager at Tamaansari Urbano, said on Thursday.
Developers in Indonesia typically sell houses and apartments before they are constructed. The practice, known as marketing sale, allows companies to acquire cheap funding for the project and offers a cheaper purchase price to buyers. It can also put customers at a greater risk in the case of the project defaulting.
The company is offering 21 square-meter and 37 square-meter apartments, with prices ranging from Rp 200 million to Rp 400 million.
Located 25 kilometers east of Jakarta, Bekasi is home to seven industrial zones driving developments of commercial and residential buildings.