Participating in Puri Botanical Project for Large-scale Condominium Development in Indonesia19 March 18, 12:00 am
Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; Representative Director, President and Chief Executive Officer: Kuniharu Nakamura) will participate in the Puri Botanical Project for condominium development (hereinafter, “the Project”) in Jakarta, Indonesia through a project company. The participation will be undertaken via partnerships with Tokyu Land Corporation (hereinafter, “Tokyu Land”), a local property investment and development company named PT. Jakarta Setiabudi Internasional Tbk. (hereinafter, “JSI”), and other parties.
Under the Project, two 34-story condominium towers with three basement floors are planned to be constructed in the Puri Botanical area in West Jakarta, approximately 10 kilometers southwest of the center of Jakarta. To be built on a site facing the outer ring expressway entrance/exit located within approximately 14 kilometers of Soekarno-Hatta International Airport, the condominiums will offer highly convenient access.
In the Puri Botanical area, residential housing is being developed under the leadership of PT. Copylas Indonesia (hereinafter, “Copylas”), a subsidiary of JSI. With commercial facilities and Light Rail Transit (LRT) also planned for future construction, further development is anticipated in the area.
Through its subsidiary, PT. Summit Residential Indonesia, Sumitomo Corporation will push the Project forward with Copylas and PT. TPB Development Indonesia, a project company in which Tokyu Land has a stake. Construction is targeted to start in 2019 for completion and delivery in 2021.
In the housing development industry, Sumitomo Corporation has engaged in condominium development under the Classy House brand in Japan. Drawing on its know-how accumulated through this domestic operation, the Company is undertaking housing development projects in India and China as well as Indonesia, with discussions underway to engage in the housing development/real estate business elsewhere in Asia.
Through this Project, Sumitomo Corporation will help meet the growing housing demand in Indonesia that is being driven by regional economic development, and contribute to building a foundation for comfortable lifestyles and developing local communities. While responding to the growing need for housing as Asian economies steadily grow, Sumitomo Corporation will be further strengthening/expanding its real estate business and contributing to local development while building the foundations for comfortable and exciting living.
■Puri Botanical area
■Outline of the Construction Project
|Name||Puri Botanical Project|
|Site area||Approx. 11,400 ㎡|
|Total number of units||Approx. 600 apartments|
|Major shared facilities||Outdoors: Swimming pool, gym, lounge|
|Indoors: Café restaurant, mini supermarket|
|Comprehensive design/supervision||Tokyu Architects & Engineers Inc. (Tokyu Sekkei)|
|Scheduled commencement of construction||Early 2019|
|Scheduled delivery||End of 2021|
■Sumitomo Corporation’s Material Issues
Sumitomo Corporation Group positions “Six Material Issues to Achieve Sustainable Growth with Society” as an important factor in developing business strategies and in the decision-making process for individual businesses. Going forward, we will pursue sustainable growth by resolving these issues through our business activities. This project especially contributes to “Contributing to the Development of Local Communities and Industries” and “Establishing a Foundation for Comfortable and Enriching Lifestyles”.