JAKARTA: PT Metropolitan Land Tbk, Indonesia-based property developer, has budgeted IDR421 billion to establish M Gold Residence and a shopping center, Metropolitan Grand Mall, commencing in the second half of 2011.Expectedly, the construction of M Gold Residence will spend IDR81 billion investment, while IDR340 billion will be required for Metropolitan Grand Mall, as confirmed by PT Metropolitan Land General Manager of Corporate Communications Wahyu Sulistio.The both construction of M Gold Residence and Metropolitan Grand Mall shopping center will be started in the second half of this year that are targeted to complete in early of 2013 for M Gold Residence and Metropolitan Grand Mal in the end of 2013, Wahyu told Bisnis, yesterday.In the meantime, M Golf Residence will be stood on 3,300 square meters area located in West Bekasi. Then, the strata-title housing will be equipped by 21 floors including 6 floors for parking area.Meanwhile, the shopping center of Matropolitan Grand Mall, consisting of 4 floors with one basement, will be built in West Bekasi on 2.6 hectares area. Later, about 36,650 sqm of total area will be leased.This year, the leading developer will more focus on projects of commercial than housing sector, as affirmed by Vice Director Corporate Affair & Corporate Secretary of Metropolitan Land Olivia Surodjo.The plans are intended to maintain a balance of total revenues contributed by commercial sector by 50%, and another 50% by real estate units sale.Based on data per December 2010, the revenues from real estate sector had contributed 50.5% against total revenues. Therefore, it is expected to go higher to 69%, if there are no new projects on commercial sector this year.(t01/wiw)

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