Of the several apartment development projects in Bogor in the past five years, only part of the project was initiated by major developers such as Metland, PP property, Sentul City, Adhi Karya, Property Workshops, Gapura Prima, Cowell and Eureka Group. While some others are developed by local developers.
According to information compiled, many local developers who previously developed landed houses tried their luck developing high rise projects. The result is that some developers “cough”.
Even the developer who became the pioneer of the construction of apartments in Bogor Mansion, namely PT Akasah Sigar Tengah, was hindered by the construction of its inaugural project. Even though there are already quite a lot of people who are consumers of the Bogor mansion, which are eventually transferred to the Bogor Icon and Bogor Valley.
The same quarter of money, with Bogor Mansion, in Bogor district the same thing also happened to Cibinong Tower, which had not pocketed the IMB but had made a sale. Despite not having a Building Permit (IMB), Cibinong Tower Apartment on Jalan Mayor Oking, Cibinong, Bogor Regency, has already sold property products offered to the wider community.
The same thing happened to Apartment Grand Park City Pakuan located on Jalan Ciheuluet near the campus of Pakuan University, Bogor. After being rejected by residents, the Prime Gapura Prima developer also did not get permission to build a three-tower apartment as high as 21 floors.
Meanwhile, Apartment Grand Yasmin which is located on Jalan K.H Sholeh Iskandar or precisely next to Lotte Mart is stopped marketing. The developer of PT Yasmin Bersaudara must incur losses because they have to cancel the development plan even though the Building Permit (IMB) has been completed since 2013. This is because the new developer has completed his obligation to pay a IMB retribution of Rp1.5 billion from the supposed 11.5 billion.
Grand Yasmin Square plans to combine condotel hotels (condotel), apartments and malls. The three business units were built on 19,000 square meters of land.
Next J-Sky construction had stopped when sales had reached half of the total 452 units. Of the total 50 percent, 10 percent of them are returned by consumers along with developments that never show progress. Although the construction will continue at the end of 2016 because it was promised to be completed and handover to consumers by the end of 2017, until now the apartment is still stalled.
According to J Sky’s marketing gallery at Bogor Nirwana Residence’s marketing gallery, construction and sales have temporarily stopped and will resume.
J-Sky is offered at a price of Rp. 14 million per square meter or around Rp. 290 million. Previously, when it was marketed for the first time three years ago, (2013) the price was still at the level of Rp 11 million per square meter. The price will continue to move up as the government plans to build access in the form of the Bogor Inner Ring Road or the Bogor Inner Ring Road that crosses J-Sky.