JAKARTA: Developer of Paramount Serpong township Paramount Group prepares IDR2.4 trillion this year to develop 10 projects, which is not include housing, to boost recurring income.
The company will not only develop the 10 projects inside the Paramount Serpong township in Tangerang but also in Malang and Magelang, Paramount Group CEO Tanto Kurniawan said.
"We will develop STKIP Surya campus along with its dormitory, two apartments, and 4 hotels in Serpong. As for Jakarta, we will develop Paramount City superblock," he said when contacted by Bisnis on Friday, May 18, 2012.
The first phase development of Paramount City superblock in Slipi Jakarta will cost the largest fund of IDR1.2 trillion. It will begin the construction at the end of July 2013 on a 5 hectare land area.
In the initial phase, Paramount Group will build three hotels (2-star, 3-star, and 4-star hotel) and convention center with capacity of 3,200 people, followed by apartment with 4 towers and 37 floors and office buildings.
The company prepares IDR290 billion to build two towers apartment, IDR180 billion for Aston Paramount Residences, IDR145 billion for Neo Apartel (Apartment-Hotel), IDR145 billion for two Fave Hotels, and IDR215 billion for STKIP Surya campus and dormitory.
Such massive construction of hotel and apartment is part of the company’s strategies to boost recurring income.
Paramount Group just finished conducting the groundbreaking for Aston Paramount Hotel as high as 9 floors in Malang or the highest in the city. It invests IDR125 billion for the project.
In Magelang, Hotel Aston Magelang just reached the topping off phase this month. It costs IDR100 billion and targeted to complete in November this year. (T06/TW)