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ICBC Indonesia contributes IDR 520 billion to IDR 800 billion syndicated loan for Citra Maja Raya Construction Project (Linked to Record ID#70540, #70541)
| Funder | PT Bank ICBC Indonesia |
|---|---|
| Recipient Organization | PT Hanson International Tbk |
| Country | Indonesia |
| Start Date | Jun 11, 2015 |
| End Date | May 03, 2026 |
| Duration | 3,979 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 66254 |
Grant Description
ICBC Indonesia contributions to IDR 800 billion syndicated loan for Citra Maja Raya Construction Project On June 11, 2015, ICBC Indonesia and PT Bank Mayapada Tbk (MAYA) signed an IDR 800 billion syndicated loan agreement with PT Hanson International Tbk — a private Indonesian company mainly focused on property development in the Greater Jakarta area — for the Citra Maja Raya Construction Project.
ICBC contributed 65% of the face value of the loan, equal to IDR 520 billion, and the remaining IDR 280 billion was provided by MAYA.
The purpose of the project is to develop Citra Maja Raya, a real estate project (township development) in the West of Jakarta (in Maja District and Banten Province). Upon completion, the township is expected to house 1.2 million people. Citra Maja Raya is about 1 km from Maja station of Greater Jakarta Commuter Rail.
The project officially commenced on November 18, 2017.
As of August 2018, 13,000 housing units were being developed, of which 7000 housing units had been handed over to owners. The Citra Maja Raya Project was still being implemented in 2020.
As of July 2021, the project had entered its second phase of implementation, with 80% of the land area dedicated to the project still untouched.
Staff Comments
1. Given that it is not known how much ICBC contributed to the two loan tranches, the maturity field is currently unpopulated.
Sources & References
- Annual Report 2015
- SUPPORTING AND SERVICING INDONESIA ECONOMY
- MYRX_Annual Report_2016
- Hanson International Teken Pinjaman US$ 800 Juta
- ICBC Indonesia Lebarkan Bisnis ke Rumah Tapak
- Amended and restated consolidated financial statements as of December 31, 2017 and 2016
- Citra Maja Raya Successfully Launched Two New Clusters Online
- Two Ministers Reviewed and Inaugurated Citra Maja Raya
- Citra Maja Raya
- Citra Maja Raya
- Citra Maja Raya
- Antara Saat Ini Dan Masa Depan
- Laris Manis! 18.000 Rumah Citra Maja Raya Sudah Terjual Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
PT Hanson International Tbk
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