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Jakarta Post

Astra International enters property business

  • News Desk

    The Jakarta Post

Jakarta   /   Mon, February 20, 2017   /  07:08 pm
Astra International enters property business Workers operate heavy machinery during the groundbreaking ceremony of Menara Astra in the Sudirman Central Business District in South Jakarta in December 2013. (kontan.co/Muradi)

Publicly listed conglomerate Astra International held a topping-off ceremony for two property projects -- Menara Astra and Anandamaya Residences -- on Monday in its first foray into the property business.

The ceremony marked the near completion of the buildings, the construction of which took three years.

The Rp 8 trillion (US$600 million) projects stand on a 2.4-hectare plot of land. The towers are 260 meters high and will join other skyscrapers in the Sudirman Central Business District in South Jakarta.

“We have constructed the high quality Menara Astra for corporations that want office space in Jakarta,” PT Menara Astra president director David Iman Santosa told a press conference.

(Read also: Astra launches property arm as diversification continues)

Meanwhile, the Anandamaya Residences is a joint-venture project between Astra International and Hongkong Land.

The tower will have 509 apartments measuring 120 square meters to 360 square meters and three 600-square-meter apartments and three 900-square-meter penthouses.

Ninety-three percent of the apartments have been sold. “We hope to sell all the apartments this year,” David said.

Menara Astra is scheduled to open in June 2018, while the Anandamaya Residences is scheduled for completion in the first quarter of 2018 and the apartments handed over to buyers in the fourth quarter of 2018.  (ecn/bbn)