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Jakarta Post

Citramas, Sinar Mas team up for digital venture into Batam’s $14b economy

  • Norman Harsono

    The Jakarta Post

PREMIUM
Singapore   /   Mon, December 9, 2019   /  11:22 am
The Jakarta Post Image
An artist rendition of Nongsa D-Town on Batam Island. The plot of land on the right side of river is owned by Citramas while that on the left side is owned by Sinar Mas Land. Each company has contributed 5 hectares to build the town under joint venture firm Citra Sinar Global. (Citra Sinar Global/Special Photo)

Property developer heavyweights Citramas and Sinar Mas Land are jointly developing on Batam Island a new digital hub marketed as a place for foreign start-ups, particularly those based in Singapore, to outsource their digital talent. Sinar Mas Land said in a statement that the 62 hectare Nongsa D-Town, developed through joint venture Citra Sinar Global, in which Citra Mas Land and Citramas each own a 50 percent share, is expected to host some 5,000 digital talents by the time it completes the second phase of development in 2024. Neither company has disclosed their investment in D-Town, except that they would contribute 5 hectares each for first phase of development, whereby the developer will focus on constructing office space before constructing retail businesses in the second phase. “This is promising potential to be explored between the two countries; in which Singapore...