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Completion of the Plaza Indonesia Extension Project

2009-12-08

Ssangyong Engineering & Construction won the project, in July 2006, for $130 million. In so doing it pushed aside Shimizu, the largest construction firm in Japan, at the final stage of the bidding, due to the full recognition of its technological prowess.

Located in Tamrin Street, Jakarta, one of the country’s leading shopping districts, the project comprising of a 41-story office building, a 47-story apartment block and a 7-story shopping center is expected to be a landmark site embodying the luxurious development of Indonesia much like Roppongi in Tokyo or Pacific Place in Hong Kong. It should come as no surprise then that it has been nicknamed Keraton (meaning King’s Palace).

The selling prices and rents for spaces in Keraton are two times higher than those at the Four Seasons Hotel or the Jakarta Stock Exchange Building (built by Ssangyong in 1997), known as the most luxurious buildings in the city .

Ssangyong successfully completed the Plaza Indonesia, the largest building in Indonesia at that time, in 1991. Now, 15 years later, the Company has won a new project for the same Client at a site next to that one. This testifies to the fact that others recognize its fame and capability as a world-class contractor.

The Plaza Indonesia Extension Project was completed in April 2009 to comprise of a total floor space of 220,998㎡ compared to the 186,998㎡ of the Plaza Indonesia.