Cowell starts marketing at Grand Central Bogor

BOGOR, KOMPAS.com – Although the real estate market situation is still slowing down and that it is not expected that it will recover in the near future, this does not prevent the PT Mega Graha Citra Perkasa from launching Grand Central Bogor.

It is an 833 unit apartment project that occupies the area of ​​Jl Mayor Oking or just next to the Bogor Electric Train Station.

According to the director of PT Cowell Development Tbk (PT Mega Graha's holding company Citra Perkasa), Firdaus Fahmi, for the initial phase, 400 units will be released at prices of 16 million rupees per square meter.

"We are targeting this phase I sale for 250 billion rupees," Firdaus told Bogor on Thursday (29.11.2018).

Grand Central Bogor is available in two typical units, namely 25 square meters and two 42 square meters and 86 square meters.

In addition to commuters working in Jakarta or Bogor, PT Mega Graha Citra Perkasa also targets millennia with a minimum income of 15 million rupees per month.

"For them we offer an easy way to pay which is a down payment or advance payment (DP), only 20% and 30% can be paid in installments over 24 and 36 months, "said Firdaus.

PT Cowell Development Tbk's Operations Director, Wahyu Hartanto, added: Grand Central Bogor was designed with a concept connecting smart life namely an integrated housing at the interaction center, communal, office, entertainment and commercial indoor tracing area who's calling clever junction box.

"Smart junction box is a map of an integrated area, around the area of ​​Jl Mayor Oking, which, once drawn by drawing on a virtual line, will form a frame (box", Said Wahyu.

Well, this Grand Central Bogor, said Wahyu, has become one of the important components of the box.

To achieve Grand Central Bogor, PT Mega Graha, Citra Perkasa, has allocated 500 billion rupees.

"The handover in 2022 is coming," Firdaus concluded.

Great potential

Speaking of the apartment market in Bogor, according to the research director of Colliers International Indonesia's Salanto Ferry, the potential is enormous.

Indeed, development is still relatively new and started in 2015, three years ago.

"And my prediction, until 2020, is that growth must be strong, even if it's low in volume, growth of the offer will be very high, "said Ferry.

In addition to that, it's a chance to get it yield and to win investment in apartment is also quite important because the price is still low.

In comparison, the average price of apartments in Bogor is the lowest of all satellite cities, at IDR 15 million per square meter.

"Therefore, the competition will be very tight in the future, because the existing project under construction has sales of 80% while the new project in Ciawi represents about 70%," concluded Ferry.