JAKARTA - PT Jakarta Setiabudi Internasional Tbk (JSPT) will erect a residential condominium in Sanur, Bali, in 2025.

Asan Effendi, Corporate Secretary of JSPT, confirmed that the company will be working on some new projects next year in Bali.

“Based on Bali’s performance within the past 2-3 years, we saw demand for residential in Bali quite on the rise,” Effendi said in the information disclosure quoted Thursday (21/11).

The company will build a residential building on an undeveloped land of 4.2 hectare (Ha) in Sanur, Bali. The cash needed for this project is taken out of its capital expenditure (capex) budget set to IDR 400-500 billion.

“The distribution of capex is allocated for, first, residential project in Sanur. Second, it will be for revitalising Bali Collection near Nusa Dua Bali, intended to boost revenue. Additionally, it will be allocated for sustainability development in Puri Botanical resident and Savanna Sumatera,” added Effendi. (LK/ZH)