Lippo Karawaci launches US$667 mln property project in Jakarta

Jakarta (ANTARA News/Asia Pulse) - Listed property company PT Lippo Karawaci will launch a Rp6 trillion (US$667 million) property project in South Jakarta this year.

The project over a 12-hectare plot of land will include three luxury apartment towers, a 29-floor hotel of Aryaduta Regency, a 250-bed hospital of Siloam Hospital, a convention center and an private school to be run by the Pelita Harapan Group.

Funding for the project is from the real estate investment trust (REIT) it issued in Singapore in December, 2006, the company said.