Keppel Land is committed to deepen its presence in Indonesia, one of its key growth markets , with a focus on Greater Jakarta . The Company is confident that the country, with its steady economic growth, improving infrastructure, growing middle-class and rising urbanisation, will continue to support the demand for quality homes and commercial developments in prime locations.
Over the months of September and October, Keppel Land made headways in Indonesia with the acquisition of a prime site in Jakarta’s central business district (CBD) and the launch of the first phase of its landed housing project in Tangerang.
ACQUISITION OF PRIME SITE IN JAKARTA’S CBD
Keppel Land, through its wholly-owned subsidiary, PT Sukses Manis Tangguh, has entered into a conditional sales and purchase agreement with Bank Central Asia on 19 September 2017 to acquire a prime site in Jakarta’s CBD for a total consideration of Rp 586 billion or approximately $60 million. Keppel Land plans to develop a premium high-rise tower which could yield about 400 luxury apartments. The total development cost is estimated to be $170 million.
Spanning approximately 83,000 sf with a gross floor area of approximately 390,000 sf, the site sits along the main thoroughfare of Jalan Jenderal Sudirman and is adjacent to Keppel Land’s commercial development, International Financial Centre Jakarta.
Mr Ang Wee Gee, CEO of Keppel Land, said, “Indonesia is one of Keppel Land’s key growth markets where we are strengthening our presence in Jakarta. We will leverage our extensive expertise as a leading developer of prime developments across Asia to develop a premium high-rise tower that will meet the needs of a growing expatriate and local business community seeking well-located and well-appointed apartments in the city centre.
“The site is adjacent to International Financial Centre Jakarta and is located in one of the city’s most coveted addresses. We will tap on the synergies of the two developments to create a vibrant live-work-play destination.”
The site is located within the city’s golden triangle zone of shopping, dining and recreational amenities, and enjoys excellent accessibility via key transport routes, such as the future Setiabudi mass rapid transit station which is expected to be fully operational in 2019.
LAUNCH OF THE RIVIERA AT PURI
Keppel Land, together with leading Indonesian real estate developer, PT Metropolitan Land Tbk (Metland), has launched the first phase of The Riviera at Puri (The Riviera), comprising 130 homes. The Riviera is the partners’ latest landed housing project in Tangerang, Greater Jakarta.
The Riviera sits on a 12-hectare land plot situated adjacent to Metland Cyber City and is strategically located near the Karang Tengah toll access of the Jakarta Merak Toll Road, which provides excellent connectivity to Jakarta’s city centre and other key districts in Greater Jakarta. The development is situated within close proximity to the Puri CBD in West Jakarta, while the Soekarno-Hatta International Airport is located a 30-minute drive away.
Mr Goh York Lin, President (Indonesia), Keppel Land, said, “Prevailing high prices of both landed houses and apartments within central Jakarta make well-located suburban homes a good choice for homebuyers. The Riviera capitalises on such demand for quality landed homes that are close to and with direct access to central Jakarta but at the same time, reasonably priced.”
Ms Olivia Surodjo, Director of Metland, said, “The Riviera project harnesses the collective strength of its partners. We are pleased to launch this quality residential development with Keppel Land which has a strong track record of developing vibrant and quality urban developments.”
An exclusive gated riverfront estate with round-the-clock security, The Riviera adopts a resort-style living concept where future residents can enjoy the development’s full clubhouse facilities including a gymnasium, swimming pool and tennis court. Pockets of green spaces within the development are linked up by pedestrian-friendly walkways and a 650-m long riverfront boardwalk.
The project has four thoughtfullydesigned unit types, with land areas ranging from 120 sm to 256 sm. Each unit type is purposefully designed with a sheltered carpark for two vehicles, a luxurious double-volume living area, an open indoor garden as well as a separate side entrance leading directly to the kitchen and utility room. Bigger unit types feature an additional large room which can be reconfigured into a family lounge or a full-sized bedroom, catering to changing family needs.