In line with its strategy to further grow its portfolio in Indonesia, with a focus on Greater Jakarta, Keppel Land has signed a conditional agreement to secure a 4.6-ha site for approximately Rp 381 .9 billion (approximately S$40.2 million) in West Jakarta.
The Company will subsequently enter into a sales and purchase agreement for the site to develop a high-rise condominium with ancillary shophouses and shop units.
Mr Sam Moon Thong, President (Indonesia), Keppel Land, said, “Indonesia is one of Keppel Land’s key growth markets where we will continue to further strengthen our presence.
“We believe that the country’s steady economic growth, underpinned by strong fundamentals, will continue to support demand for well-located and affordable homes.
“With the upcoming launch of West Vista and the acquisition of this second residential project, we are in a strong position to meet the city’s demand for quality well-planned residential developments, especially in the West Jakarta area which is experiencing rapid growth.”
Strategically located within the growth corridor of West Jakarta, residents can enjoy excellent accessibility to business districts and various lifestyle hubs via the Jakarta Outer Ring Road.
Soekarno-Hatta International Airport is also just a 15-minute drive away. Connectivity will be further enhanced by the Jakarta Inner Toll Road which will link the western and eastern parts of Jakarta when completed in 2019.
Future homeowners will be able to enjoy a wide range of shopping, dining and leisure amenities at Puri Indah Mall, PX Pavilion and Carrefour hypermart. International schools such as Ipeka International School, Global Nusantara School and RMIT International College are also in close proximity.
To be launched in phases, the development will comprise more than 4,000 apartment units ranging from studio apartments to 3-bedroom units.
Targeted at homebuyers in the middle income segment, the first phase of the development is expected to be launched in 2017.
Keppel Land’s West Vista project is now launch-ready, with preview sales set to commence in 1H2015.