Jaya Real Property Tbk.

Brief of Company Background

Previously named PT Bintaro Jaya, it was founded in 1979. As part of its business expansion, on July 1995 the company acquired 70% shares PT Jaya Garden Polis from PT Jaya Land (subsidiary). This acquisition marked the beginning of the company second satellite city development project, Puri Jaya. Today, the company holds a total land appropriation permits of 4,000 ha include 2,250 ha in Bintaro Jaya of which 1,275 ha has been appropriated, and 1,750 in Puri Jaya with 850 ha acquired land. Garden City Bintaro Jaya has occupied 450 ha of land on which 9,500 houses have been built, and home for more than 40,000 residents. Consistent with its mission, Bintaro Jaya provides wide range facilities and amenities, such as sport center, shopping center, multipurpose hall, and 3 international schools. Beside residentials, the company also owns and runs 3 commercial properties, namely, 3-story Plaza Bintaro Jaya with 18,800 sqm rentable area, 3-story Plaza Slipi Jaya with 9,600 sqm, and Senen Blocks IV and V commercial complex with a total rentable area of 27,700 sqm. Despite an unstable climate in the prospect of the property Industry, the company’s performance is stable and this is due to more focused, flexible, and innovative strategies. It sold an office building with 17 stories to Bank Bali, and sold 500 units of houses to its own employees. In 1996, the company still concentrated its activities on the development of commercial centers and Puri Jaya. On the middle of March 1998, PT Pefindo has lowered the ranking of the company’s short term loans from idA4 to idB which shows that it is still very dependent on short term loans. Its US$ 20 million debt were in 1998.

Shareholder List

Management