Pacific Century Premium Developments Ltd. announces acquisition of a land lot covering 9277 square meters at USD 184 million in Djakarta, Indonesia. The land lot has a construction area of about 75,000 square meters, and a 32-storey office building can be built there; total costs are about USD 400 million, including payment for land purchase, support fees and construction costs.
The company had signed a HKD 3 billion loan, and it has withdrawn HKD 1.5 billion. The company's cash and cash equivalents were USD 112 million by March end, which can be used for the total costs. The company also considers special project loans to fund development costs.
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