Mitsui Fudosan Co., Ltd. (Location: Chuo-ku, Tokyo, President, and CEO Masanobu Komoda) through "MITSUI FUDOSAN (ASIA) PTE. LTD." (Mitsui Fudosan Asia Co., Ltd., Location: Singapore), has entered into a strategic joint venture agreement with PT. Grahabuana Cikarang (Grahabuana Cikarang Co., Ltd., "GBC"), a 100% subsidiary of a major local developer PT Jababeka Tbk (IDX: KIJA) to participate in three residential & shophouse clusters. The three clusters are located at Jababeka Sports City within the Kota Jababeka township in the Bekasi Regency east of the Jakarta metropolitan area. This business will be jointly operated by GBC and Mitsui Fudosan Asia.
The 8.5Ha. (approx.) site is expected to yield approximately 808 units which comprises of landed houses and shophouses, targeting real local demand. The partnership reflects the group’s continuous interest in creating spaces that focuses on health and wellness which had been exacerbated by the COVID pandemic. The project aims to create such health and wellness focused environment by developing 1-hectare sports hub facilities, such as mini golf, basketball courts, mini soccer, skate park, outdoor gym, hopscotch & giant chess, as well as kids climbing wall within the project.
Following the participation in Citra Lake Suites (Condominium) and Citra Raya (Landed House), this will be the third residential project in Indonesia for the Group.
Indonesia is a high growth market where stable economic growth is expected. Coupled with a large population of approximately 270 million, demand for quality housing will continue to remain strong and the Group is continuously looking to expand our presence in the housing market. The Group also aims to acquire opportunities across various asset classes within Indonesia through its real estate development expertise.
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