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Intiland will use Rp 130 billion of its CapEx budget for Poins Square project

12 April 2019 07:17

JAKARTA. PT Intiland Development Tbk (DILD) will use Rp 130 billion of its capital expenditure (CapEx) budget for the development of the Poins Square project through its subsidiary, PT Inti Sarana Ekaraya.

Archied Noto, Director of Capital and Investment Management of DILD, said that Inti Sarana Ekaraya has signed a memorandum of understanding with PT Menara Prambanan to develop this project. Both will establish a joint venture company called PT Inti Menara Jaya.

"This company will act as the managing entity of Poins Square. The composition of ownership is 50% each, "Noto said as quoted by Kontan on Thursday (11/4).

Meanwhile, Permadi Indra Yoga, Director of Business Development at DILD, said that the development of the Poins Square project would use the concept of Transit Oriented Development (TOD). DILD itself is currently developing 4 TOD-oriented projects in Dukuh Atas, Bendungan Hilir, Lebak Bulus, and Fatmawati. (KR/AR)

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