Keppel Land acquires $45m land plot from Indonesia’s BCA

Logo of Keppel Corporation

Property developer Keppel Land is buying  a prime piece of land in Jakarta’s central business district from Indonesia’s Bank Central Asia for 586 billion rupiah (S$60 million or $44.5 million).

Keppel Land – the subsidiary of Singapore’s Keppel Corp – will develop a high-rise tower, comprising 400 luxury apartment units. The project is estimated to be worth 1.6 trillion rupiah (S$170 million).

Measuring at 7,700 sq m, the plot is located next to the International Financial Centre Jakarta, another tower owned by Keppel Land.

“These two of our projects will be synergised to create a one-stop live-work-entertainment destination,” Ang Wee Gee, CEO of Keppel Land, said in a press statement.

The new apartment building will be located in the golden triangle of Jakarta, within close proximity to the city’s shopping, dining, and recreational amenities. It will be easily accessible with the city’s integrated transportation, especially from a station of the mass rapid transit system (MRT) Setiabudi, which will start operating in 2019.

Keppel has been ramping up investments in emerging countries in the region, including Indonesia and Vietnam, according to a Nikkei report. Its recent investments include Phase Two of Saigon Centre in Ho Chi Minh City, which includes a 55,000 sq. m retail area, a 37-storey office tower and around 200 luxury serviced apartments.

Also Read:

Singapore’s Keppel Land forms JV to acquire Shanghai property in $525m deal

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Myanmar: Bangladesh’s Crystal Future Venture to invest; Pan Pacific Hotel to finish by 2017

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.