Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

25Jun92 INDONESIA: PT JAKARTA INTERNATIONAL HOTELS AND DEVELOPMENT PLANS CENTRAL BUSINESS DISTRICT IN JAKARTA.

Ambitious plans to build a new central business district costing US$3,200 million (£1,830 million) in Jakarta, Indonesia's capital city, were announced last week by PT Jakarta International Hotels and Development (PT JIHD).The Indonesian government and the city council have given their backing to the project.A masterplan has already been completed by Singapore consultant, CESMA International, an offshoot of the Housing and Development Board.A group of consultants, consisting of Australian town planner, Philip Cox and Associates, Nippon Koei of Japan, and CMPFS of Australia, has also been appointed to police the implementation of the masterplan and supervise construction.Work on the first of six stages of Jakarta's 'city within a city' is expected to start later this year for completion in 1994.This phase entails the construction of two office towers, a podium block for the Jakarta Stock Exchange, a hotel and an apartment complex.One of the towers has already been pre-let to PT Danareksa, the state-owned financial services company which apart from owning a stake in PT JIHD has also formed a joint venture with the firm to help finance the first phase.The other is likely to be occupied by PT Taspen, the government pension fund. Talks are also taking place to involve Singapore Telecom and PT Telekom, Indonesia's telecommunications company.In all, more than 2.5 million sq m of office and shops are envisaged.They will be served by a complex network of roads, tunnels and people movers. CONSTRUCTION NEWS