JAKARTA (TheInsiderStories) - PT Nirvana Development Tbk (IDX: NIRO), property company with a focus on developing shopping center, is eyeing to own around eight shopping centers to support non-organic growth.
Finance Director of Nirvana Development, Timothy Alam, said a total of three new shopping centers will be built by the company, which will be operating this year. On the other hand, NIRO has acquired Rp73,97 billion worth of Cianjur Supermall and possible to contribute net operating income as much as Rp7 billion per year.
He added a third of capital expenditure as much as Rp 800 billion will be used for the acquisition of assets. Until 2015, NIRO has operated shopping centers in six cities, namely Cirebon, Solo, Sampit, Pangkalan Bun, Kapuas, and Ketapang. (*)