Pasardana.id - Keppel Land Limited (Keppel Land), through its subsidiary, Keppel Land (Indonesia) Pte Ltd, and PT Metropolitan Land Tbk (Metland) signed an Overall Cooperation Agreement for project development on residential land owned by Metland in Jakarta and surrounding areas. with an investment value of IDR 5 trillion.
This agreement was signed by Goh York Lin, President (Indonesia) of Keppel Land and Thomas J. Angfendy, President Director of PT Metropolitan Land Tbk.
The Indonesian Minister of Public Works and Public Housing (PUPR), Basuki Hadimuljono also witnessed this signing, which was carried out at the opening of the FIABCI Global Business Summit in Bali, Thursday (06/12/2018).
Under the agreement, Keppel Land and Metland will invest each other's contribution with the same value in the housing project cooperation.
This collaboration continues the first phase of collaboration between Keppel Land and Metland in the construction of 500 landed houses at The Riviera at Puri, a housing cluster in Tangerang, Greater Jakarta.
Keppel Land and Metland are exploring the next housing development cooperation in East Jakarta.
“We are always exploring the possibility of strategic alliances with strong and trusted partners in developing the business. With this collaboration, Keppel Land can synergize using Metland's business network in Indonesia and Keppel can share its experiences in property development abroad," said Goh York Lin, President (Indonesia) of Keppel Land in a press release Thursday (12/06/2011). 2018).
Thomas J. Angfendy, President Director of PT Metropolitan Land Tbk added, “Keppel Land is a strategic partner of Metland, this collaboration shows our synergy in developing projects together. The key to our success in developing a joint project is to emphasize our individual strengths.”
Keppel has been in Indonesia for more than two decades. In the property sector, Keppel Land already has four housing projects in Jakarta and its surroundings that have produced 8,300 quality homes, including; The Riviera at Puri, West Vista at Puri, an apartment development in the Jakarta CBD area on Jalan Jenderal Sudirman and a housing project in West Jakarta.
This Overall Cooperation Agreement is not expected to have any material impact on the earnings per share and asset value of Keppel Corporation Limited for the current financial year.
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