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Jakarta Post

FARPOINT, Tokyo Tatemono set up joint venture company

  • Inforial

    The Jakarta Post

Jakarta, Indonesia   /   Sat, December 15, 2018   /   12:02 am
FARPOINT, Tokyo Tatemono set up joint venture company . (Photo Courtesy of FARPOINT/.)

PT Farpoint Realty Indonesia (FARPOINT) and Tokyo Tatemono -- a leading developer company from Japan -- set up a joint venture company, which is aimed at contributing to growing the property industry in Indonesia and fulfilling consumer needs.

The inaugural project of FARPOINT and Tokyo Tatemono is called “The Loggia”, a condominium that brings a new living space for upper-middle class in South Jakarta that plans to be marketed in 2019. The signing ceremony of the joint venture was carried out by Honey Angkosubroto, commissioner of PT Farpoint Realty Indonesia and Hitoshi Nomura, president director & CEO of Tokyo Tatemono Co., Ltd. The signing ceremony also marks the first of the Tokyo Tatemono inaugural projects in Indonesia and added into the portfolios of FARPOINT.

"The joint venture of FARPOINT and Tokyo Tatemono is based on a same vision and values of both companies in fulfilling the needs of consumers in the market. It also reflects FARPOINT's philosophy Think Beyond, that we present consumers with innovative developments that understand and meet their need and lifestyle for now and later," said Mulyadi Janto, head of SBU Residential FARPOINT.

Katsuhito Ozawa, executive managing director and head of overseas business division of Tokyo Tatemono Co. Ltd. explained, "Indonesia is a very important market for Tokyo Tatemono. And we are very pleased to be able to build a partnership with FARPOINT, as one of the most reputable developers in Indonesia. We honor the same principle, which prioritizes the trust of our customers by providing solid quality to pay attention to all aspects other than functions and aesthetics."

"The Indonesian economy has been growing positively in recent years, marked by the highest achievement of GDP among ASEAN countries. The purchasing power of the upper-middle class has also increased, which convinced us to invest in Indonesia. The strategic partnership with FARPOINT is the fourth partnership in ASEAN countries after Singapore, Myanmar, and Thailand and this is the first step in contributing to grow with Indonesia’s real estate industry," added Ozawa.

FARPOINT is an Indonesian real estate developer that presents and manages property with high quality standards and designs. It is a wholly owned subsidiary of Gunung Sewu Group, a well-established and respected business group in Indonesia. With a vision of "becoming a trusted real estate company with employees who wholeheartedly produce innovative products and quality experiences, provide value to its stakeholders", FARPOINT is supported by more than 30 years of experience in the development and management of residential property assets, commercial, hospitality and retail.

FARPOINT projects have received numerous international awards, including the Sequis Tower, an international Grade A office building in SCBD, which won in the Skyscrapers/High Rise category at the International Architecture Awards 2018, as well as Best Green Development and Best Universal Design Development at the Indonesia Property Awards 2017, and Best Futura Project at the MIPIM Awards Asia Pacific 2013. Other projects to receive awards include VERDE Two, which won in the Residential High-rise Architecture category at the 2014-2015 Asia Pacific Property Awards, The Hundred, an integrated mixed-used development in Mega Kuningan, which won Best Futura Project at the MIPIM Awards Asia Pacific 2014, and the Sequis Center, which received the Greenship Gold Level by the Green Building Council Indonesia in 2015.

Tokyo Tatemono Co., Ltd., (Tokyo Tatemono) has been engaged in corporate activities since 1896 with its corporate philosophy, "Trust Beyond the Era” and is now the oldest property developer in Japan. Tokyo Tatemono has a diverse interest in real estate related business, such as the urban development of commercial properties contributing to the sustainable future of cities, including the renowned Otemachi Tower, on the top floors of which is located AMAN Tokyo, premium residential developments supporting affluent and dream-filled living, property management, hospitality business including operating resort facilities and golf courses, etc.

Its strategic subsidiary, Tokyo Tatemono Asia Pte. Ltd was established in Singapore in 2014, with the aim of seeking further business opportunities in Southeast Asia by extending its experience and know-how, which have accumulated in Japan over 120 years. The company participated in a splendid new tower project in Dharmawangsa, South Jakarta as the first project in Indonesia. (*)