CLAY to Build Hospital in East Kalimantan

By Editorial Team 10/09/2019
Summary

PT Citra Putra Realty Tbk (CLAY) decided to build its first hospital in Pontianak, West Kalimantan. The hospital will occupy Rp 68 billion worth of 8,500 square meters of land, purchased using the funds from the company’s Initial Public Offering (IPO). The company expects the hospital to compete directly against hospitals in Kuching, Malaysia.

CLAY initially planned to build hotels in the area. However, after a thorough assessment, the company saw the healthcare industry is a more feasible business than the leisure industry. The hospital will use around Rp 633 billion of investment funds, mainly came from the BRI’s Investment Credit (KI). The construction of the hospital will start this year and possibly finish in the middle of 2021.

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