Signing Joint Venture Agreement PT Tegaluar City Development between PT Wika Realty, China City Construction Thirteenth Engineering Bureau Co. Ltd, and PT Kultur Urban Inti Inovasi & Signing Head of Agreement Land Acquisition & Project Development MT

Sunday, 26 June 2016

PT Wika Realty is delighted to announce the latest news of our projects that has achieved agreement-signing phase with our partners on 26 June 2016 at WIKA Tower, Jakarta.

As future development, PT Wika Realty plans to include two new projects to its portfolio in property business, which are the Gede Bage and MT Haryono projects. These two projects will be develop as a high rise building and is a joint operation projects with our partners PT Kultur Urban Inti Inovasi, PT Garuda Sentosa Pelaksana, and China City Construction Thirteenth Engineering Bureau Co. Ltd. (“CCCC”). However, we are planning to establish a Joint Venture company specifically for the Gede Bage project named PT Tegaluar City Development.

Additionally, on 26 June 2016 those projects have embarked to the agreements signing step which joined by the top managements from our company as well as our partners. Along with our partners, we are all very optimistic of these projects to achieve its success. PT Wika Realty in particular is proud to be able to work with such respectable companies as well as to work alongside with a multi-national one. Therefore, we are hopeful for the on-going process to run swiftly and excited to start the two projects.

Gede Bage project is located in East Bandung – an area that is starting to develop well with the establishment of a business district, creative centre, and other commercial properties. This project will be supported as well with the development of high-speed train, an infrastructure project from our holding company. Furthermore, the MT Haryono project is as strategic as the latter in surrounding location wise. It is sitting adjacent to the many business centre in Jakarta and will also be complemented by the LRT project from the government that soon will be built.