According to the bank document, "the proposed investment is a loan for Indonesian Rupiah equivalent of up to US$50 million to Farpoint to support the development of affordable housing projects (a total of around 7,000-8,000 landed houses).
Proceeds of the IFC loan will be used by Farpoint’s subsidiary, Investasi Semesta Indonesia to develop four affordable housing projects viz.: Samanea Hill project (25ha) currently under development and three potential future developments in Parung Panjang (12ha), Batu Malang (20ha), and Cikeas (40ha) or other suitable land sites (the “project”).
These housing units are expected to be located in the Greater Jakarta and Java area".
The total cost of the Project is estimated not to exceed approximately US$364 million and will be funded by a senior loan of up to US$50 million from IFC’s own account.
Established in 1953, PT Gunung Sewu Kencana (GSK) is an Indonesian diversified business conglomerate and operations in the food, insurance, property, manufacturing and other emerging businesses.
PT Farpoint Realty Indonesia (FRI) is the property arm of GSK, established in 2006 to focus on development and management of residential, commercial, hospitality and retail properties in Jakarta and across Indonesia. The IFC loan will be used by FRI and its subsidiary PT Investasi Semesta Indonesia (ISI) which develops FRI’s affordable housing sub-projects.
Both FRI (Borrower 1) and ISI (Borrower 2) are 100% owned by GSK (Sponsor)
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||PT Farpoint Realty Indonesia (FRI)||Client||-|
|-||-||-||-||PT Gunung Sewu Kencana||Parent Company||-|
|-||-||-||-||PT Investasi Semesta Indonesia (ISI)||Subsidiary||-|
1/ Project Contact
PT Farpoint Realty Indonesia
+62 816 1144 738
Sequis Tower Level 37Jl. Jendral Sudirman Kav. 71 SCBD Lot 11B
2/ IFC Contact
General IFC Inquiries
2121 Pennsylvania Avenue, NW
Washington DC 20433
3/ Local Access for Project Documentation
PT Farpoint Realty Indonesia, Sequis Tower Level 37, Jl. Jendral Sudiman Kav. 71 SCBD Lot 11B
ACCESS TO INFORMATION
You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries
If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.
ACCOUNTABILITY MECHANISM OF IFC/MIGA
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org