"Because of the positive property market expectations this year and next year we have raised our capital expenditures to up to Rp1 trillion from Rp700 billion previously to expand and speed up development projects," Intiland Capital and Investment Management Director Archied Noto Pradonono said.
He said that fund allocations for the capital expenditures came from internal cash and banking loans.
"Intiland has strong financial foundation so we have wide room to realize the company`s large-scale projects. The development of the new projects will allow the company to see substantial business growth ahead," he said.
"Intiland is preparing a number of new large-scale projects in the segments of residential houses, mixed-use and high-rise development, industrial estates and hotels," he said.
He said the good economic and conducive political conditions in Indonesia this year would have a positive impact on the growth of the property sector in the country.
"The year 2011 will be better than the previous year," he said.
Given the high market demand, property businesses including development of residential areas, hotels, warehouses and offices would remain good, he said.
"While the property market particularly in developed countries has reached its saturation point, the property market in Indonesia is still widely open," he said.
(Uu.S012/A/H-NG)
Editor: Priyambodo RH
Copyright © ANTARA 2011
