INDUSTRY.co.id - Jakarta - PT Hutama Karya (HK) Realtindo. The subsidiary of PT Hutama Karya (Persero) will invest for the development of the Suramadu Bridge of Madura Side.

Previously, HK Realtindo signed a memorandum of understanding (MoU) for the development of the area with the Regional Development Board of Surabaya Madura on 31 July.

Of the total investment in the development of the Suramadu Bridge in Madura which amounts to Rp 23 trillion, HK Realtindo is not targeting the development of the entire region. "We are only targeting a portion of the land, we will take about 10% -20% of the total investment," said Koentjoro, President Director of HK Realtindo, last weekend.

In the next one year, HK Realtindo will still conduct a study related to the concept of the project to be developed on the land. Koentjoro said, so far it is interested to develop housing projects and industrial estates there.

In doing the development, HK Realtindo will partner with, especially from local. "While conducting the study, we will also seek partners to be invited to cooperate," said Koentjoro.

HK Realtindo is interested to develop an industrial park of about 100 hectares (ha), because the location of the land is close to toll access to the port. While the housing will be developed that target the middle segment.

In addition to preparing for development in Suramadu, HK Realtindo will continue to develop new projects. After last week launching housing in Serang Banten, the company will launch three more new projects in the second semester.

HK Realtindo will develop a residential and hotel project in Indralaya, Palembang at the end of November on 6 ha land. Groudbreaking hotels and sample homes will be carried out simultaneously with the launch.

The company is interested in diving the project, because in Indralaya there is no hotel. While the dwelling to be developed will be auctioned with prices ranging from Rp 250 million.

Then HK Realtindo will launch a cheap apartment in Sidoarjo end of September. The company will build 5,000 apartments on an area of ​​6.2 ha to be sold at a price below Rp 300 million.

While the third project will be launched HK Realtindo is a student apartment near the Bogor Agricultural Institute of West Java as two towers. The project has a capacity of 400 units, on an area of ​​1.2 ha at the end of October. This apartment will be marketed starting price of Rp 200 an million.

Koentjoro estimates that the investment of a student apartment project in Bogor will cost around Rp 300 billion, Sidoarjo Apartments at Rp 600 billion and Indralaya Project around Ro 450 billion.

For expansion, HK Realtindo will still rely on internal cash and bank loans. This year, HK Realtindo prepares Rp 1.1 trillion capital expenditure. A total of 20% of funds come from internal and the rest from bank loans.

HK Realtindo has not confirmed the continuation of plans to float on the Stock Exchange (IPO). "The continuation is still awaiting the decision of the parent company (Hutama Karya)," said Koentjoro.