Our property analyst Sarina went out on the streets to kick some tyre to see the latest development of infrastructure projects in Greater Jakarta. While it is no new news that infrastructure projects in Indonesia are painfully slow, we a re pleased that there are some progress with new toll roads and flood canals (Jakarta is infamous to have floods during rainy seasons).
* In recent months, three toll-roads were inaugurated, totaling 48.5km. Two are part of the Greater Jakarta network and one section as part of the Trans-Java.
* More toll-roads to come in 2010/2011: 2 sections of Semarang Solo, 1 section of Surabaya-Mojokerto, JORR W2 and the two sections of JORR2 which provide alternative routes to the Cengkareng airport from Serpong.
* Bakrieland also aims to acquire and develop 4 other toll-roads projects as part of the Trans Java network, after the roll-out of its Kanci-Pejagan toll-road.
* On East flood canal, the project has shown significant progress since the last time we visited in 2008. We drove along the 23.5km development and saw bridges already constructed, along with flood gates, indicating that some sections are already functioning
* On toll-road investment, Jasa Marga (JSMR IJ) is the main beneficiary given its dominance on toll-road investment in Indonesia. In the overall infrastructure space, other beneficiaries are the cement, heavy equipment and construction companies. Secondary beneficiaries will also include the property companies.
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