PRESS RELEASE
PT AGUNG PODOMORO LAND TBK ESCALATES RESORT DEVELOPMENTS WITH APPOINTMENT OF MARRIOTT FOR NUSA DUA, BALI PROJECT AND LAND
ACQUISITION IN BOGOR, WEST JAVA
Jakarta, September 7, 2011. PT Agung Podomoro Land Tbk ("APL" or the "Company") – (Ticker IDX: APLN) – today announced that the Company has appointed the Marriott Group to manage its project in Nusa Dua, Bali. The project includes the development and management of around 300 international-standard five star hotel rooms using luxury brand "JW Marriott Hotel" and management of more than 70 villas and residential units using "JW Marriott Residences". Marriott will manage the project as an integrated property development to provide added value both for the hotel as well as for the residences.
Trihatma Kusuma Haliman, President Director and CEO of APL said, "We are very pleased to have an agreement with Marriott to manage our Nusa Dua, Bali project as an integrated property development. By working with Marriott which has a very good reputation, we are confident that this project will provide optimal results both through revenue from the hotel as a source of recurring income and sales from villas and residential units ".
The Company also entered a share purchase agreement to acquire 99.9% stake in PT Putra Adhi Prima (PT PAP) from affiliated parties. PT PAP has about 85 hectares of land in Bogor, West Java which will be developed into an integrated residential and resort development. Total investment is around IDR 300 billion.
Trihatma added, “We will also develop an integrated thematic resort in Gadog, Bogor which will be the first of its kind in the last ten years. There will be villas, townhouses, commercial area, retirement village, recreation park and hotel in one integrated area. We believe there are a lot of demands for this kind of development and an excellent location provides the best opportunity for us”.
About PT Agung Podomoro Land Tbk
PT Agung Podomoro Land Tbk. has 14 (fourteen) subsidiaries in property sector in Jakarta, Karawang, Bandung and Bali. With 40 years of experience as part of the Agung Podomoro Group, Agung Podomoro Land has a solid foundation to become the leading developers in developing property business in Indonesia.
Within 10 (ten) years, the Agung Podomoro has completed more than 50 property projects, with majority addressed to middle class segments of society, with projects ranging from low cost apartments to high end apartments in South Jakarta, high end and the neighborhood mall, shop houses, hotels and office towers. With a motto to be part of future investors and buyers, and provide a harmonious lifestyle, Agung Podomoro Land believes to continuously growing rapidly in Indonesia, where local knowledge meets international standards.
For further information, please contact:
Wibisono
Investor Relations
Tel: 62-21-56949727 Mobile: 628551000535 Fax : 62-21-56949717
Email : wibisono@agungpodomoroland.com Website: www.agungpodomoroland.com
Disclaimer
