Indonesia Investments presents the updated company profile of PT Lippo Cikarang Tbk, a leading Indonesian property developer that started operations in the early 1990s with the development of the Cikarang township in Bekasi (West Java). This township includes both industrial and residential centers, complete with supporting infrastructure and public facilities on a 3,000 hectare-wide landbank. Similar to other Indonesian property developers, Lippo Cikarang has posted growing profits due to higher demand in the property sector.

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Indonesia's largest listed property developer, PT Lippo Karawaci, will distribute IDR 270 billion (USD $27.8 million) in dividends to its shareholders (IDR 11,86 per share). This amount is equivalent to 25.5 percent of the company's net profit in 2012. The developer posted a 49.7 percent increase in net profit last year to IDR 1.06 trillion (USD $109.3 million). The company is convinced that it will increase its net profit to IDR 1.9 trillion (USD $195.9) in 2013.

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Those consumers and investors who purchased one or more apartment units in the Meikarta megacity project in Bekasi (West Java) are currently facing uncertain times. A new corruption scandal has put the future of the Meikarta project in jeopardy and therefore those who have already bought a Meikarta apartment fear that their money and apartment unit is lost. Those who are still making monthly mortgage payments to the bank, are confused whether they need to continue these payments (hence risking losing more money) or stop the monthly payment.

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One of Indonesia's biggest diversified conglomerates, the Lippo Group, topped off two apartment towers for its ambitious and controversial Meikarta megaproject on Sunday (29/10). The topping off ceremony is a sign that - despite some legal uncertainties - the project will continue as planned and not face the same fate as the land reclamation project in the bay off the coast of North Jakarta.

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Lippo Cikarang, an Indonesian property developer (part of the Lippo Group), managed to get international hotel chain operator Langham Hospitality Group on board for its ambitious Meikarta project. Meikarta is designed to become a full-fledged township some 34 kilometers to the east of Jakarta, equipped with high-class and modern residential, commercial, industrial, cultural and educational centers.

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