An investor from Dubai, Limitless, has planned to increased its investment at Bakrieland Development by US$30 million from the initial plan of US$110 million.
The company will do that if Bakrieland gets approval from other shareholders like the Provincial Government of Jakarta for the existing projects like Festival Market, Klub Rasuna, and Youth Center of Soemantri Brodjonegoro.
The project will be on 8.8 million hectares of land in Rasuna Said of Kuningan, Jakarta.
Limitless is a unit of Dubai World. It has acquired 30% shares of Bakrieland's units like PT Bakrie Swasakti Utama, PT Superwish Perkasa, and PT Bumi Daya Makmur.
Tuesday, March 25, 2008
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