Indonesian tycoon plans 111-storey tower

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Jakarta is about to see the construction of the world’s fifth tallest building starting later this year. According to local newspaper reports, Indonesian tycoon Tomy Winata, owner of company conglomerate Artha Graha Group, has teamed up with Las Vegas-based MGM Hospitality to build Signature Tower, a 638 meter-skyscraper with 111 floors, in the central business district of Jakarta. An agreement between the two parties was reportedly signed mid-May 2012.

The building at costs of $2 billion will be the tallest structure in Indonesia and the fifth tallest building in the world when finished in 2017, behind the yet-to-be-built Kingdom Tower in Saudi Arabia, Dubai’s Burj Khalifa, the Ping An Finance Center in Shenzen and the Seoul Light DMC Tower.

The Signature Tower will house residential apartments, offices, a six-star hotel, a convention center and plenty of retail space. As for the office space, the tower is expected to boast between 200,000 and 250,000 square meters of office area among the first 80 floors. There will also be a viewing observatory at the 111th level.

Up to 40 per cent of the construction costs are supposed to be funded by the two partners and the rest by syndicated bank loans.

The tower will be designed by Atlanta, US-based Smallwood, Reynolds, Stewart, Stewart & Associates. Mechanical and electrical engineering design will be done by New Zealand-based company Beca, and the structural engineering by US-based engineering company Thornton Tomasetti, all together with local Indonesian firms. Owner and developer of the tower is Winata’s company PT Grahamas Adisentosa.

The building will be the center part of a 45 hectare development in Jakarta’s Sudirman Central Business District, which is home to the Jakarta Stock Exchange, many banks as well as international companies.

Tomy Winata is an Indonesian self-made businessman with interests in the fields of banking and real estate. His Artha Graha Group  is one of the biggest business empires in Indonesia and made him one the nation’s richest men. The group has also recently won the contract from the Indonesian government to build the Sunda Strait Bridge, a 30 kilometer structure to connect the islands of Java and Sumatra which will be the world’s largest bridge when finished. Construction is planned to start in 2014 and is funded by the China Railway Construction Corporation with $11 billion.

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Reading Time: 2 minutes

Jakarta is about to see the construction of the world’s fifth tallest building starting later this year. According to local newspaper reports, Indonesian tycoon Tomy Winata, owner of company conglomerate Artha Graha Group, has teamed up with Las Vegas-based MGM Hospitality to build Signature Tower, a 638 meter-skyscraper with 111 floors, in the central business district of Jakarta. An agreement between the two parties was reportedly signed mid-May 2012.

Reading Time: 2 minutes

Jakarta is about to see the construction of the world’s fifth tallest building starting later this year. According to local newspaper reports, Indonesian tycoon Tomy Winata, owner of company conglomerate Artha Graha Group, has teamed up with Las Vegas-based MGM Hospitality to build Signature Tower, a 638 meter-skyscraper with 111 floors, in the central business district of Jakarta. An agreement between the two parties was reportedly signed mid-May 2012.

The building at costs of $2 billion will be the tallest structure in Indonesia and the fifth tallest building in the world when finished in 2017, behind the yet-to-be-built Kingdom Tower in Saudi Arabia, Dubai’s Burj Khalifa, the Ping An Finance Center in Shenzen and the Seoul Light DMC Tower.

The Signature Tower will house residential apartments, offices, a six-star hotel, a convention center and plenty of retail space. As for the office space, the tower is expected to boast between 200,000 and 250,000 square meters of office area among the first 80 floors. There will also be a viewing observatory at the 111th level.

Up to 40 per cent of the construction costs are supposed to be funded by the two partners and the rest by syndicated bank loans.

The tower will be designed by Atlanta, US-based Smallwood, Reynolds, Stewart, Stewart & Associates. Mechanical and electrical engineering design will be done by New Zealand-based company Beca, and the structural engineering by US-based engineering company Thornton Tomasetti, all together with local Indonesian firms. Owner and developer of the tower is Winata’s company PT Grahamas Adisentosa.

The building will be the center part of a 45 hectare development in Jakarta’s Sudirman Central Business District, which is home to the Jakarta Stock Exchange, many banks as well as international companies.

Tomy Winata is an Indonesian self-made businessman with interests in the fields of banking and real estate. His Artha Graha Group  is one of the biggest business empires in Indonesia and made him one the nation’s richest men. The group has also recently won the contract from the Indonesian government to build the Sunda Strait Bridge, a 30 kilometer structure to connect the islands of Java and Sumatra which will be the world’s largest bridge when finished. Construction is planned to start in 2014 and is funded by the China Railway Construction Corporation with $11 billion.

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