Signing of PT Hotel Karya Indonesia's Joint Venture Company Deed of Establishment by WIKA Realty, PP Properti, Waskita Karya Realty, and HK Realtindo

Monday, 29 October 2018

On Monday, October 29, 2018, an event of signing of the Joint Venture Company Deed of Establishment "PT Hotel Karya Indonesia" has been conducted between WIKA Realty, PP Properti, Waskita Realty, and HK Realtindo in Bontang, Kalimantan. This signing is a follow-up to the agreement of the holding companies of the State Owned Enterprises ("SOE") subsidiary with PT Hotel Indonesia Natour to develop the Grand Inna Bali Beach ("GIBB") area which is planned to be developed as a convention center equipped with accommodation facilities, art markets, and eco parks.


The event is attended by WIKA Realty President Director Agung Salladin, President Director Waskita Realty Tukijo, President Director of PP Properti Taufik Hidayat, and President Director of HK Realtindo Koentjoro and witnessed by the SOE Minister Rini Soemarno. Also attending the event were the Managing Director of WIKA Tumiyana, officials of the Ministry of BUMN, and the Directors of other SOE companies involved.


The GIBB area is expected to compete competitively with private hotels in the area. Tumiyana, President Director of WIKA, explained that this collaboration is a form of WIKA Group's commitment to support President Jokowi's instructions to advance state-owned hotels. "BUMN synergy is needed to advance the Indonesian tourism sector and in this case WIKA will support this through the capabilities of the company," said Tumiyana.


In addition to GIBB, PT Hotel Karya Indonesia is also expected to be able to carry out investment activities, funding, engineering planning, construction of hotel construction, cottages, art markets, facilities and infrastructure towers, provision of supporting facilities, operations, operations, maintenance and other activities related to sustainability of development and regional development.