IAI realizes that the growth of the construction sector has an important role in the economic development ..."Jakarta (ANTARA News) - The construction industry in Indonesia is projected to grow by 14.26 percent in 2015 and plays an important role in the nations economic growth, according to Indonesian Architects Association (IAI) Secretary General Satrio S. Herlambang.
"IAI realizes that the growth of the construction sector has an important role in the economic development of ASEAN countries, especially in Indonesia and Myanmar," Satrio stated here on Thursday.
He noted that the construction markets growth potential is enormous due to the high demand of infrastructure development along with the several challenges that must be faced.
"The construction industry in Myanmar is also growing exponentially by 14.52 percent from 2009 to 2013 in line with the increase in population and strong economic growth," Satrio remarked.
The IAI secretary general pointed out that the Myanmar Real Estate and Construction Monitor have observed an increasing interest from Indonesian construction companies to capitalize on the opportunities in Myanmar.
"Construction companies such as Ciputra Group, Lippo Group, and Wijaya Karya (WIKA) have agreed to undertake development projects in Myanmar," he affirmed.
He explained that WIKA has undertaken a multifunctional development project in Yangoon, worth US$270 million, covering commercial and residential units that will be ready in 2017.
"While the Lippo Group, the owner of the largest private hospital operator in Indonesia, property developers, and retailers, is planning to build 15 new hospitals in Myanmar in the next 20 years and also plans to venture into the retail sector," he said.
(Uu.O001/INE/KR-BSR/F001)
Editor: Priyambodo RH
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