Indonesia's Bakrieland says property market to grow 20 pct in 2011

PT Bakrieland Development, one of Indonesia's biggest property firms, sees the nation's property market growing by 20 percent next year as strong economic growth will help the sector tap more demand for housing as well as attract more foreign investment, said Hiramsjah Thaib, Bakrieland's CEO, on Monday.

PT Bakrieland Development also aims to launch an initial public offering for its toll-road unit in the fourth quarter 2011 to raise up to 1 trillion rupiah. Source: Reuters