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View all search resultsPanasonic's housing firm to develop smart town in Indonesia
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Illustration of smart infrastructure for smart city. (Courtesy of Adam Beck/File)
P
anaHome Asia Pacific Pte Ltd -- a housing company of the Panasonic Group -- has entered into an agreement with PT Puradelta Lestari to establish a joint venture company, PT PanaHome Deltamas Indonesia, with an aim of building a residential estate through a sustainable smart town concept.
The smart town will be built within Kota Deltamas, an integrated industrial, commercial and residential township developed by PT Puradelta Lestari in Cikarang, Bekasi Regency, West Java.
“PanaHome Deltamas will be established as a joint venture with equity interest split 51 percent to PT PanaHome Gobel Indonesia, a PanaHome consolidated subsidiary, and 49 percent to Puradelta,” the Jakarta-based Puradelta wrote in a statement on Wednesday.
The joint venture will pursue housing development by combining Puradelta’s concept of creating a residential neighborhood proximal to business districts in the Kota Deltamas area and PanaHome’s expertise in building sustainable smart towns in Japan.
The total value of project development until 2026 by PanaHome Deltamas was estimated at around Rp 3 trillion. (ags)
