JAKARTA (TheInsiderStories) - After became a special economic zones, the manager of MNC Lido City, PT MNC Land Tbk (IDX: KPIG), plans to build MotoGP circuit in the areas, announced by the director on Monday (03/08). The property company owned by tycoon Hary Tanoesoebidjo, plans to build the arena in stages with funding sources from investors.
The director, Alex Wardhana, said in a disclosure, explained, in the first stages, the developer plans 700 hectares of Lido City areas. In total, the SEZ has a land area of 10,000 hectares. To build all zones is estimating need funds US$1.7 billion in three years time.
Last month, the other unit of the group, PT MNC Studios International Tbk (IDX: MSIN) has started the construction of Movieland in Lido City, covering an area of 21 hectares. Tanoesoedibjo asserted, the Movieland will be designed as the first creative hub in Indonesia, and is expected to be a major step in the creative industry.
Movieland development covering an area of 21 hectares with the concept of an integrated film and drama series production center. Managing director of MNC Studios International, Ella Kartika, said that Movieland was built for Indonesian and foreign filmmakers whose numbers are predicted to continue to grow.
Since 2019, MNC Group and Donald Trump’ foundation, has targeting to build luxurious Trump Residences in Lido in West Java and Tabanan in Bali. Executive vice president of Trump Organization, Donald Trump Jr., stated, the reasoned, his company choose Indonesia as one of the business expansion in Asia, cause the country has natural market.
Tanoesudibjo explained, the financing of the projects funded by the Group, including the infrastructure projects such as Bogor – Ciawi – Sukabumi toll road, railways, and airport. If need other fundings, he said, will come from local banks.
Around 350-hectares land of MNC Lido City, Tanoesudibjo stated, will involving in hotels, villa, golf course, and country club. He added, “In Bali we have similar projects. We have 1,000 hectares land bank there.”
Trump Organization is a global luxury real estate company and have projects in 14 countries around the globe. While, MNC Land founded in 1990 by Tanoesudibjo and engaged in property, hospitality and entertainment company in Indonesia.
US$1: Rp14,300
Written by Editorial Staff, Email: theinsiderstories@gmail.com
