Indonesia’s biggest property developers
Agung Podomoro, one of Indonesia’s biggest property developers, plans R3 trillion (US$330 million) in capital expenditures next year as it focuses on property projects in the greater Jakarta area.
The company plans to complete developments including the Green Bay Pluit superblock in North Jakarta and Kuningan City in South Jakarta, Indra Wijaya, vice president director of Agung Podomoro said.
Many Indonesian companies, including property developers, have been increasing investments for next year on expectations of growing demand by middle-income households as experts predict the Indonesian middle class to to double in size to almost 50 million in the next few years. Agung Podomoro has various property interests including detached homes, apartments, townhouses, shopping malls and projects known as “superblocks,” which combine these different types of development.Indonesia’s biggest property developers . . .