Indonesia, the largest economy in Southeast Asia, has been identified as a growth market for CapitaLand. Indonesia’s economic growth has been steady for the past few years due to growing domestic consumption, fuelled by a rising affluent middle-class. Large infrastructure development projects attract steady foreign investment. The real estate market in Indonesia is well supported by sound economic fundamentals and further growth is expected with rising demand.
CapitaLand’s first integrated development in Indonesia is located in Jakarta’s Central Business District (CBD). The prime site is close to embassies, renowned civic buildings, affluent residential neighbourhoods and the National Monument. It also has good connectivity to major roads in the CBD and to other areas in Jakarta.
The integrated development will comprise an office tower, a residential tower, a serviced residence managed by Ascott as well as supporting retail space, spanning a total gross floor area of more than 40,000 sqm. The residential tower will offer premium apartment units and townhouses on the podium level. The development is expected to be completed by 2019.
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