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Summarecon, SouthCity enter joint venture to invest Rp 1t to build mall in SouthCity
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T Setiawan Dwi Tunggal (SouthCity) and PT Summarecon Agung's subsidiary PT Summarecon Investment Property, have partnered in a joint venture, investing over Rp 1 trillion to develop a 6.4-hectare mall in the SouthCity superblock. The mall will be centrally located in the 57-hectare SouthCity superblock, which is strategically positioned at the intersection of South Jakarta, Cinere and Pondok Cabe. SouthCity is a 57-ha superblock that is focused on developing best-in-class properties, which include apartments, landed homes, shops and entertainment areas.
Peony Tang, director of SouthCity, highlighted that around 6.4 ha was needed to develop a shopping mall and entertainment center that will cater to the needs of millennials, young executives and families. “The mall is envisioned as a lifestyle hub, offering retail shops, restaurants, a children's playground and family entertainment areas, surrounded by green spaces,” she said.
Alberto Sutejo, sales and marketing general manager at SouthCity, noted the significant market potential in the area with a growing population. “The mall is expected to not only meet the community's lifestyle needs, but also enhance local property values, and generate new job opportunities,” he said. He also pointed to the importance of offering affordable housing that is set in a lush and green environment with easy access to Jakarta's center, which SouthCity provides.
SouthCity’s connectivity is boosted by its proximity to major tolls and highways, such as the Limo tollgate (Cinere-Jagorawi toll road) which just opened last month, Pamulang tollgate (Serpong-Cinere toll road) and Brigif tollgate (Depok-Antasari toll road), along with nearby public transportation options such as Lebak Bulus MRT Station, Fatmawati MRT Station and RoyalTrans.
