JAKARTA: Property developer PT Megapolitan Developments Tbk (MD) has appointed Chinese investor to be its strategic partner to develop township in Sentul, Bogor-West Java.President Director of MD Melani Lowas explained that both parties made an intensive assessment before the end of 2010.Our management has discussed and decided to choose the Chinese investor as a strategic partner to develop our property that starts in Sentul, she said yesterday.But, Melani had not mentioned yet the Chinese investors identity.Definitely, according to her, both parties in early of this year can sign the cooperation.Now, we are formulating a various requirement for the partnership, she exposed.She added that the township in Sentul will be realized after completing share listing process in Indonesia Stock Exchange tomorrow (January 12).We expect MDs listing process to be on time and to run smoothly, so we can handle Sentul project with the Chinese strategic partner, Melani confirmed.For short and long term, according to Melani, MD has programmed to build several property projects that were sourced from 60% of shares proceeds in the capital market.As much as 36 % of the allocated fund will cover constructing apartment, lifestyle center, and hypermarket in Puri Cinere-Depok.While, the remaining of 24% of the allocated fund is benefited to finance a part of property construction cost as townhouse, commercial area, apartment, hospital, scholl building, and infrastructures in Cimandala City, Sentul.MD established in 1976 is one of pioneer property companies for the opening of residential area in Cinere, Depok.In addition, the company is also initiator for several property projects in Mega Kuningan area as The Bellagio Residence.Now, Megapolitan is also developing other projects in Cinere-Depok, Karawaci-Tangerang, and Sentul-bogor. (t01/wiw)

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