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Jump to full article: Jakarta Post (id), 2005-10-28
Author: Tantri Yuliandini, The Jakarta Post, Jakarta
Intro: ""Build it and they will come"" said the character that Kevin Costner played in the 1989 movie Field of Dreams, a quote which also seems to be the byword for the management of PT Grand Indonesia, which is constructing a 7-hectare hotel-apartment-shopping mall-office complex in the city center.
But in times of economic downturn like these, and with many other malls under construction, will they really come?
Grand Indonesia managing director Frans H. Lazaro thinks so. . . .
The Rp 2.3 trillion (about US$230 million) complex is being built on the property of the historic Hotel Indonesia and the former state-owned Hotel Wisata. PT Grand Indonesia -- 75 percent owned by cigarette-maker PT Djarum through its subsidiary PT Cipta Karya Bumi Indah -- will operate the complex through a 30-year built-operation-transfer (BOT) agreement with the government.
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