JAKARTA, KOMPAS.com - Keppel Land Limited (Keppel Land) through its subsidiary, PT Sukses Manis Indonesia, signed an agreement with developer PT Metropolitan Land Tbk (Metland).
The agreement is a form of cooperation to develop a 12-hectare housing project in the Metland Menteng area, East Jakarta. The two will manage the project together and develop it gradually.
Keppel Land and Metland will each have 50 percent ownership of the joint operation which will produce approximately 500 housing units and supporting shophouses.
The contribution of the two developers also includes the total project development cost which is estimated to reach Rp 1.2 trillion.
"Indonesia is one of the main markets for Keppel Land and we are committed to continuing to increase our presence in this country by focusing on the Jabodetabek area," said Keppel Land Indonesia President Goh York Lin in a written statement received by Kompas.com, Tuesday (18/18). 12/2028).
"We believe Indonesia, with its steady economic growth, increasing urbanization and a growing middle class, will continue to create demand for high-quality housing." he added.
This agreement is a continuation of the overall cooperation agreement signed by both parties to collaborate on the part of housing projects owned and managed by Metland in Jabodetabek.
The location that will be built into a residential area will later be equipped with various public facilities such as shopping centers, restaurants, and other recreational facilities such as AEON Mall, Carrefour, Giant and also IKEA.
In addition, residents will also enjoy other public facilities such as Global Mandiri and Santo Yoseph schools, as well as health service facilities such as Mayapada and Citra Harapan hospitals.
This project also marks the second collaboration between Keppel Land and Metland after The Riviera at Puri. The project received a positive response, with nearly 90 percent of the units built sold by the end of November 2018.
