Lippo Group managed to acquire 16.8% of the total land required to develop the ambitious Meikarta township project. Although the land acquisition process is far from completed, while in various local media it is speculated that Lippo Cikarang, the developer of the Meikarta project, still has not obtained all necessary permits on the provincial level to start construction, the Lippo Group has been marketing its Meikarta township project aggressively to Indonesian consumers. In the first stage the Lippo Group offers 225,000 apartment units to consumers, with the price ranging between Rp127 million and Rp560 million. It is estimated the whole Meikarta project will require IDR 278 trillion (approx. USD $21 billion) worth of investment.
