Plaza Indonesia, Where Rosano Barack-in-law Syahrini Is Serving As A Commissioner, Views The Property Industry As More Vibrant In 2022

Plaza Indonesia. (Photo: Wikimedia Commons)

JAKARTA - PT Plaza Indonesia Realty Tbk (PLIN) is optimistic about the property industry for 2022. The reason is, the increasingly controllable condition of the COVID-19 pandemic and also the planned vaccine booster program in 2022 can have a positive impact on the pace of business for the company where Syahrini's father-in-law, Rosano Barack, is the President Commissioner.

"Our expectation is that it will improve again in 2022. Especially with the herd immunity that has been achieved, and the government will start opening a vaccine booster in 2022 which is expected to have a huge impact on business," said Plaza Indonesia Director Evy Tirtasudira, in a Virtual Public Expose, mid-December. .

Evy explained that the decline in COVID-19 cases made the property business sector more enthusiastic in the future. PLIN's businesses, namely, shopping centers, offices, and hotels will bounce back next year.

Deputy President Director of Plaza Indonesia Anthony Prabowo stated that in 2022 PLIN will be quite aggressive in developing hotel business units as well as shopping centers or malls.

"Currently PLIN has started to carry out a number of renovations in stages at the Grand Hyatt Jakarta Hotel. The renovation process is going smoothly according to the original plan. At this point we have only reached 50-60 percent of our renovation plan. So high expectations, with more room inventory whose renovation has been completed, will be more conducive to room prices," explained Anthony.

To carry out the renovation, PLIN received funds through a loan facility of US$ 35 million. The funds are allocated until 2023, considering the ongoing renovations are carried out in stages, because hotel operations still have to run.

"Capital expenditure (capex) funds for the renovation of the majority for the Grand Hyatt Jakarta Hotel, which has been funded by a loan facility received by PLIN amounted to 35 million US dollars," said Evy.