Sinar Mas Land, Japanese Consortium to develop premium mixed-use project in BSD City
By Digital News Asia October 6, 2017
- Japanese consortium comprises five companies led by Mitsubishi Corporation
- A thousand premium houses, commercial lots will be developed on 19 hectares
SINAR Mas Land, one of the largest property developers in Indonesia, through their business subsidiary, PT Bumi Serpong Damai, and a Japanese consortium led by Mitsubishi Corporation, will develop a premium mixed-use project in BSD City.
The project, to be developed on 19 hectares of land, will consist of a 1.000 units of premium housing and a commercial component.
PT BSD Diamond Development is the name of the joint venture company established to develop the mixed-use project which is planned to be launched in the near future.
The Japanese consortium consists of five Japanese companies and is led by Mitsubishi Corporation, one of the largest Japanese companies with various interests in automotive, commodities, and property business worldwide.
The consortium also features JOIN, an investment arm of Japanese Ministry of Land and Infrastructure.
The rest of the partners are Hanshin Electric Railway Corporation, Nishi-Nippon Railroad Corporation, and Keikyu Corporation which are transportation companies with vast experience in developing transit-oriented property development.
Ishak Chandra, CEO Strategic Development & Services Sinar Mas Land says, “This cooperation proves the trust of foreign investors in developing BSD City which has a high potential market growth and is strategically located with excellent accessibility. The development of the premium mixed-used region in BSD City is a prestigious collaboration with the Japanese consortium, with an investment value of more than US$260 million or 3.5 trillion rupiah.”
BSD City is one of the main projects of Sinar Mas Land with a total of 5.950 hectare to be developed.
This cooperation will reinforce Sinar Mas Land’s position as one of the largest and most experienced property developers in Indonesia.
The presence of Mitsubishi Corporation, as one of the partners in the Japanese consortium, adds additional value to BSD City offerings.
“We are confident that the economic growth of Indonesia will continue to be stable and supported by the large middle-class population which will increase the demand for property in the time to come,” said Ishak.