Singapore’s Keppel Land Acquires Business District Area in Jakarta for $60m
Keppel Land, the real estate arm of Singapore-based conglomerate Keppel Corp, signed a conditional sales and purchase agreement with Indonesia’s Bank Central Asia, or BCA, to acquire a central business district area in Jakarta.
According to a company statement released on Tuesday (19/09), Keppel acquired the land for Rp 586 billion ($60 million) as part of the company’s effort to expand its property assets in Indonesia.
Through its local unit Sukses Manis Tangguh, Keppel acquired 7,700 square meters of land in the nation’s capital, with a gross floor area of around 36,000 square meters.
Keppel’s Rp 1.6 trillion high-rise residential project, located in the middle of what is popularly known as the “golden triangle” on Jl. Jenderal Sudirman, features 400 units of luxury apartments. The property is located next to the International Financial Center building, which is also managed by Keppel.
The project is close to a shopping center, restaurants and an entertainment center. The high-rise will also be located close to the Setiabudi mass-rapid transit system upon the latter’s completion in 2019.
“Indonesia is one of Keppel Land’s key growth markets and Jakarta is one of the cities that we want to boost its growth. We will use our expertise as an experienced developer in Asia to build high-rise residential [buildings] with premium quality in a bid to meet the needs of expatriates and local entrepreneurs, as these communities continue to grow and seek the best apartments in the city,” Keppel Land president director Ang Wee Gee said.
Keppel Land is a residential and commercial building developer in Asia, known for its flagship building projects in Singapore, including the Marina Bay Financial Center, Ocean Financial Center and One Raffles Quay.
Keppel also plans to develop properties in other major Asian cities, including in Shanghai, Beijing and Tianjin in China, Ho Chi Minh City in Vietnam, Yangon in Myanmar and Manila in the Philippines.
Currently, the company has a total of more than 60,000 houses under construction in Singapore and other countries in the region.
source: jakartaglobe.co.id