JAKARTA: The apartment and super-block developer PT Pakuwon Jati Tbk allocated IDR1 trillion investment fund to construct Kasablanka shopping mall area to be opened in May 2012.The shopping mall will be built above 110,000m2 area in the center of Kasablanka super block said Director of Business Development PT Pakuwon Jati, Ivy Wong.The project is now in the final phase, heading to the topping-of and expected to operate in May 2012. Of the total 110,000m2 area, nearly 60% has been leased, he said yesterday.Ivy further added that the mall shall display numerous popular brands such as Sogo, Carrefour, MAP Group, Anchor, Gramedia, Toy Kingdom, Cinema XXI, Informa, Ace Hardware, and Electronic Solution.The other interesting part of Kota Kasablanka is the food society area, connecting the mall and apartment that consist of various kinds of unique culinary spots such as restaurant, caf, lounge and club.Kota Kasablanka shall be built in 9.5 hectare area with IDR2.7 trillion of total investment, being derived from internal cash and bank loan.The percentage of financing source is 50% from internal cash and 50% bank loan from Bank Mandiri and CIMB Niaga, he said.Super-bloc Kota Kasablanka consists of Shopping Mall Kota Kasablanka with its food society unit as well as two apartment towers, Casa Grande Residence and office building, 88@Kasablanka. The two apartment towers are south tower (Avalon and Mirage) and north tower (Montana and Montreal).Pakuwon shall focus to develop Kota Kasablanka this year as it plans to develop the Gandaria City Super-block second phase in the year after.Gandaria CityThe second-phase development of one-hectare Gandaria City Super block costs IDR600 billion. This super-block consists of Gandaria 8 office building, Gandaria Heights apartment, Gandaria City mall and Gandaria hotel. The total wide of Gandaria City is 7.5 hectare.The Surabaya-based developer still prefers Jakarta to further develop the project merely due to its promising market.Prior to this, Ivy affirmed that Pakuwon will focus more on the mixed sue development in Surabaya through the development of Tunjungan City and Pakuwon City development.In the development of Tunjungan City superblock, there will be 35,000 m2 additional areas along with the establishment of Super Mall, apartment, and condominium above Tunjungan Plaza 5. (T02/NOM)
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