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Thursday, March 10, 2011

Gefung makes foray into Indonesia property sector

KUALA LUMPUR: GEFUNG HOLDINGS BHD is making its foray into Indonesia and is planning to undertake a mixed development property project in east of Jakarta.

Gefung said on Thursday, March 10 it had signed an MoU with PT Greenworld Development to undertake the project totaling 50.74 acres east of Jakarta.

It said the proposed involvement in property development was in line with the group’s strategy to diversify its revenue stream.

It said the site was along Jalan Pengangsaan Dua, Rawa Terate Village and surrounded by established neighbourhoods in the Kelapa Gading sub-district which is mainly a middle to upper middle class area.

It added Kelapa Gading had six shopping malls within a 20-km radius and it was 14km from central Jakarta.

By The EDGE Malaysia

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