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Metropolitan Land to expand land bank in Kertajati

19 September 2019 14:19

JAKARTA - PT Metropolitan Land Tbk (MTLA) plans to use the remaining capital expenditure in 2019 to acquire land in Kertajati, Majalengka. For information, the company has budgeted a capex of 2019 as much as Rp 700 billion and until now it has been absorbed by Rp 259 billion.

Therefore, MTLA 2019 capex still remained at Rp 441 billion. Metropolitan Land plans to expand the landbank in Kertajati to be more than 200 hectares.

Metropolitan Land Finance Director Olivia Surodjo said, "It is possible that we will use the remaining capital expenditure for land acquisition to enlarge the 200 ha land bank," quoted from Bisnis.

Aside from Kertajati, Metropolitan Land also has a land bank of 600 ha. With the addition of 200 ha in Kertajati, the company's total land bank reaches 800 ha. (LM)

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