Publicly listed property firm PT Bakrieland Development Tbk kicked off the construction Wednesday of the Rp 3.5 trillion (US$368 million) Rasuna Epicentrum "superblock" in Kuningan, South Jakarta.
The development will consist of an office tower, apartments, a concert hall, a media center and a park along a nearby riverbank.
President director Marudi Surachman, accompanied by the other members of the Board of Directors, led the groundbreaking ceremony at the 44.7-hectare site in front of the company's Rasuna Club near Jl. Rasuna Said.
"This officially starts the construction of the infrastructure for the whole superblock," he said.
The infrastructure he referred to includes basic facilities, such as the drainage system, and electricity, telecommunications, water and gas networks, as well as the waste treatment system and access roads.
"Infrastructure is the most important part of this project. As a superblock, the Rasuna Epicentrum will boast high quality buildings that provide all possible comforts to tenants and visitors," Marudi said.
He added that the construction of the infrastructure would be carried out in three phases and was expected to be completed in less than two years.
Bakrieland has appointed local contractor Hutama Karya to construct the infrastructure.
While the infrastructure was being developed, Bakrieland would also start on the construction of a 48-story office building, to be called the Bakrie Tower, as well as the Epicentrum Walk, the Lifestyle Center and an apartment building. It would also renovate the existing Pasar Festival shopping center.
The entire development was expected to be completed in 2010.
According to chief marketing officer Ferry S. Supandji, 80 percent of the space in the Bakrie Tower has already been sold, even though construction will not start until July.
"We have sold about 50,000 square meters out of the total floor space of 60,000 square meters. Most of those taking space in the tower are member companies of the Bakrie Group. A number of other companies, including foreign firms, have also taken space," he said.
Marudi said the "superblock" would be unique in the capital.
"For example, people walking along the Epicentrum Walk will be treated to music and performances by entertainers every day," he said.