Jakarta, June 26 -- PT Al Qilaa International Indonesia, a company backed by Qatar, plans to construct one million vertical housing units for urban areas in Indonesia, with the first phase consisting of around 50 thousand flats.

"For the initial phase, we estimate around 50 thousand units (flats),'' the company's chairman, Sheikh Abdul Aziz Al Thani, stated in Jakarta on Thursday.

He affirmed that the second phase is also planned to include around 50 thousand flats.

Currently, his side is working to secure land and permits for the construction of the flats. The first phase of the development plan is estimated to require an investment of around US$2.5 billion.

Al Thani noted that obtaining land and permits will take time, but he is opt...