Surabaya (05/02) – The national developer, PT Intiland Development Tbk., continues strengthening its position in Surabaya property market with its new development projects. Following the success of several phenomenal projects; such as Graha Famili and Graha Natura residential estate, as well as Intiland Tower and Spazio office development, the company is now developing a number of new projects to anticipate the high demand in property market in Surabaya.
Intiland vice president and Chief Operating Officer, Sinarto Dharmawan, said Surabaya had a big and potential market. Being second biggest city in Indonesia and the business hub in the country’s eastern region, Surabaya has increasingly public and business demand for property products.
To anticipate the growing trend, he said that Intiland would soon commence the development of several new projects, in addition to continuing the development of the ongoing projects. The projects are those of mixed-use & high-rise properties, high-rise residence, business complex and office.
“We are accelerating the development of our new projects to meet the increasing demands for various property products. We have to look ahead; how the trend for property needs and development in big cities around the world is also adopted here, ” Sinarto explained.
Projects that are soon to commence include Praxis, an integrated business area located in Surabaya’s business district; and Spazio Tower in Graha Famili complex, West Surabaya. The company is also developing its Intiwhiz hotel chain in several locations in the city.
Praxis is an integrated mixed-use & high rise project located next to Intiland Tower. Built on an area of 1.1 hectare in Surabaya’s business district, the project comprises an apartment, retail space, a ballroom, office space and a hotel. The company plans to start the project soon, with the groundbreaking slated to take place in the second quarter of the year.
Praxis project has received warm public welcome since it was launched. The company has marketed 248 apartment units, 195 of which are sold. For office product, the company has sold 41 units out of the total 64 units.
The high public interest has also led to the significantly increased selling price of Praxis units. In a period of six months, the price of an apartment unit has risen 25 to 30 percent, while that of the office space is up 20 to 25 percent.
Project Development
Other new development plan includes the development of Spazio Tower. It has similar concept to the Spazio project the company previously developed – integrated office space, hotel and café, al fresco restaurant and lifestyle outlets. The added value Spazio Tower offers is the hotel that supports business activities and lifestyle of the owners or tenants. Spazio Tower is built on an area of 5,130 square meters in adjacent to Spazio. The twenty-story tower occupies the building area of around 56,000 square meters.
Sinarto explained that the development of Spazio Tower was slated to take place in the middle of the year. The building has the function of office space, hotel and lifestyle center. Office space will take up a space of around 23,000 square meters, divided into 176 office units. The hotel will have 140 rooms, and the first two floors are designed for retail space.
“The needs for office space in Surabaya remain high. We are optimistic the concept of integration we are offering with Spazio Tower will receive good public response. Besides, West Surabaya is developing rapidly,” he added.
Another development project the company is focusing on is Graha Natura residential project. At present, the company is focusing on the completion of the development of Morning Glory cluster, located on Block A. The company will also develop the commercial area at the end of this year.
The company has also reported a rapid progress in the development of Sumatra36 apartment. The apartment, located in the center of Surabaya, is set for topping off in February.