The Jakarta Post
Japan’s Daiwa House Industry is building a superblock on a 10-hectare plot of land near the light rail transit (LRT) station in Ciracas, East Jakarta.
The Sakura Garden City will have 5,000 housing and commercial units in 12 towers. It will be built in line with the transit-oriented development concept.
The property was targeting customers in the middle-income class, a group that really needed housing right now, Daiwa House Industry senior executive officer Nobuya Ichiki said on Monday, as quoted by kompas.com.
Daiwa House Industry is cooperating with Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN). The Japanese investor has joined hands with Trivo Group to form PT Sayana Integra Properti, which has invested Rp 10 trillion (US$719 million) in the superblock.
PT Daiwa JOIN director Tubagus Nouval Haedar claimed Sakura Garden City was the biggest transit-oriented development property built by a Japanese firm in Jakarta. “Our location is right across from the LRT’s Ciracas Station. This will give tenants good mobility to go to Jakarta and Bogor,” said Tubagus.
The developer aims for the project to be completed in 2024. (evi)