Wika Realty changed form into a public company (Perusahaan Terbuka) based on Modifications of Articles of Association Act no. 11 of December 7th 2004, but in accordance to the policy of the main shareholder (Wika) on public offerings, the initial public offering of Wika Realty shares was postponed.
In 2001, Wika Realty diversified its business. Previously focusing as a developer, the company conducts its business in three areas: realty development, property management and construction services.
To support property businesses particularly building management, PT Wijaya Karya handed over various WIKA’s fixed assets, such as Office Towers and Industrial Estates, to be managed by Wika Realty. The property unit is currently also manages non-WIKA assets and is beginning to manage Apartments.
The construction services unit was founded to fulfill an opportunity in this business. The resources needed are available, and the construction is focused on realty-related projects such as Malls, Trade Centers, Office Buildings, and Housing Flats. The Realty unit is developing landed housings, and also has started vertical housings or high-rise buildings.
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