WIKA Realty, Patra Jasa, and WIKA Gedung Joint Cooperation in Land Development in Kuningan, Jakarta

Wednesday, 07 August 2019

Jakarta, 7 August 2019 – PT Wijaya Karya Realty ("WIKA Realty") and PT Wijaya Karya Gedung Tbk as subsidiaries of WIKA along with PT Patra Jasa formed a joint venture company (Joint Venture/JV) established under the name of PT Patra Wijaya Realtindo. This establishment is stated in the Company Establishment Agreement signed by WIKA Realty's President Director Agung Salladin, WIKA Gedung's President Director Nariman Prasetyo and President Director of Patra Jasa Hari Tjahya Wibowo and witnessed by WIKA Realty Director Suyamat and WEGE Director Nur Al Fata in Jakarta, Wednesday (7/8).  


In the ownership structure, WIKA Realty shares are 30%, WEGE shares are 10%, and Patra Jasa shares are 60%. Through PT Patra Wijaya Realtindo, the three companies will work together to develop Pertamina Oil Village land in the Kuningan area. On the 2 ha land, high rise residential will be developed which has 4 towers with a total of 700 apartment units. 


"This apartment will be located in a strategic area with access to Kuningan CBD and Sudirman CBD as well as tranportation facilities through the LRT and MRT. Accessibility makes this apartment has good prospects and can be an appeal for prospective buyers," said Agung


Agung then revealed that after complying the administrative and licensing aspects, the apartment will immediately begin its construction period, which WEGE will act as the implementing contractor.


For WIKA Realty, the development of apartments in Pertamina Oil Village will add to the company's portfolio that is now focused on developing its business in the realty and property investment sector, both in Jakarta and other major cities in Indonesia. Meanwhile, for WIKA Gedung, this project will further strengthen the company as "Preferred Partner in Creating Spaces for Better Human Life".