State-owned construction company PT Adhi Karya Tbk (ADHI) has decided to spin off its transit-oriented development (TOD) and hotel department into a legally separate entity, called PT Adhi Commuter Properti, as an attempt to allow the business unit to optimize business prospects going forward. The TOD and Hotel subsidiary will focus on developing property projects along the LRT track, the company said in a published prospectus. Currently, Adhi Karya developing three sections of LRT project, namely Cawang-Cibubur section, Dukuh Atas-Cawang and Cawang-Bekasi Timur section, with a total length of 43.5 kilometers. Among hotel projects being developed are including Grandhika hotels in Jakarta, Medan, and Semarang.
