Jakpro to Build Low-Cost Apartments, Athlete Housing Complex
Jakarta. City-owned property developer Jakarta Propertindo, or Jakpro, is set to break ground on low-cost apartments and a housing complex for athletes in Jakarta this year, after receiving Rp 7.7 trillion ($550 million) in capital injections from the Jakarta administration, a top official said on Thursday.
Jakpro president director Abdul Hadi confirmed the company received funds from the 2015 Jakarta Regional Budget to spend on several projects, including apartments.
"We plan to have the groundbreaking [for the apartments] this year," Abdul told reporters.
He said the company plans to build apartment buildings with a total capacity of 13,000 units near Kampung Bandan in Central Jakarta. The units are meant to accommodate evictees from illegal settlements along Jakarta's railways.
The apartments, Abdul said, will be integrated with the Kampung Bandan train station and stores, and equipped with elevators.
The capital injection will also be used to build low-cost apartments above revamped Jakarta traditional markets.
"There are currently 12 markets that will be integrated with apartments, including Block G of Tanah Abang market [in Central Jakarta]," he said.
Jakpro is coordinating with city-owned market operator PD Pasar Jaya and Jakarta Housing Office for the construction, which is expected to reach completion by 2017.
The Jakarta administration also gave Jakpro the task to build a housing complex for athletes competing in the 2018 Asean Games on 11 hectares of land in Kemayoran, Central Jakarta. Development on the project will start in September.
"Once the Asean Games comes to an end, the housing complex will be turned into an apartment building with 7,000 units," Abdul said.
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