Allocate Rp. 600 Billion, Tanrise Property Build Superblock in Jember

INDUSTRY.co.id - Jakarta - PT Jaya Sukses Makmur Sentosa Tbk or Tanrise Property continues to expand its business, after building highrise project in Surabaya, now Tanrise Property is preparing a new project in the superblock area of ​​Tanrise City Jember in Jember city, East Java worth Rp 600 billion.

President Director of PT Jaya Sukses Makmur Sentosa Tbk, Belinda Natalia said, public enthusiasm during book building and investor confidence of the capital market with funds absorbed from the community of Rp 244.5 billion and RISE share price increase of 205 percent from Rp 163 per share to Rp 498 per share at the close on July 23, 2018, has given its own optimism for the company.

"We are truly motivated to complete several existing projects and at the same time prepare new projects that utilize the landbanks that we already have in several locations," Belinda said in a press release to the media crew on Wednesday (25/7).

Belinda explained, two projects that are now in the stage of completion is the project Voza Premium Office and The 100 Residenca. From the beginning, the two projects in Surabaya will be completed using IPO funds, 53 percent for the Voza Premium Office project and 47 percent for The 100 Residence project.

"For the current Voza Premium Office, the final and final stage of the project is planned to be at the end of 2018. The current sales progress has reached 60 percent. Meanwhile for The 100 Residence has now reached the 21st floor of 33 floors and is targeted to hand over the unit in the first quarter 2019. Progress sales have reached 40 percent, "he explained.

While one of the new projects initiated and now in the preparation stage is the project of the Tanrise City Jember superblock area on an area of ​​12 hectares (ha) in the city of Jember. The land will be used for commercial zone of 5 ha and 7 ha residential zone.

The superblock project itself consists of Commercial Shophouse, 200 units of Serviced Apartments, Lifestyle Mall, Hotel & Convention Hall, Commercial Strips, Retail Centers and Residential. As a form of seriousness in working on this new project, the company has carried out site clearing activities in the field in June 2018 and has carried out agent gathering on July 18, 2018.

"At the moment we are completing all permits related to the development plan of this project. Along with all permits completed, we will start the construction. At this time we have also begun to open operational offices there. Maybe the first thing we built first is shophouse," Belinda said.

Regarding prices, he said, currently sales were still being opened for Commercial Shophouses which were pegged in the range of Rp 1.9 billion to Rp 2.3 billion per unit. As for the serviced apartment as many as 200 new units will open sales later this year. Currently the price for apartments in the range of Rp 17 million per square meter.

Jaya Sukses Makmur Sentosa's Operations Director, Daniel Richard added, besides having a pretty good property sector growth, Jember was also quite potential for the development of the superblock project.

"We have a good land bank and it's time to develop our target is investors in Jember because they have invested so much outside Jember, so we give Jember people the opportunity to invest in their own region If this is realized then Jember is the first city has a superblock, "he said