Press Release : Cooperation Agreement
COOPERATION AGREEMENT WITH CHINA FORTUNE LAND DEVELOPMENT CO., LTD BECOMES EFFECTIVE
PT Alam Sutera Realty Tbk (“ASRI”) and China Fortune Land Development Co., Ltd. (“CFLD”) have both fulfilled the condition precedents related to the Cooperation Agreement signed on June 22nd 2016 to co-develop Pasar Kemis. Hence, the Agreement is now effective.
CFLD, via its subsidiary in Indonesia, has transferred 1.45 trillion Rupiah (approximately RMB 713 million) security deposit to ASRI on July 26th, 2016. As the cooperation progresses, the security deposit will be gradually released.
About Alam Sutera
PT Alam Sutera Realty Tbk (Alam Sutera) is a leading integrated property developer in Indonesia that started its development in 1994 and focuses its business activities in the development and management of residential, commercial, and also the management of shopping centers, leisure centers and hospitality (integrated area development). Since 2007 Alam Sutera’s shares have been listed in the Indonesia Stock Exchange (IDX: