|For Immediate Release||02 July 2019|
to Develop Upscale High-Rise in Jakarta
2 July 2019, Jakarta - Swire Properties and Jakarta Setiabudi Internasional Group announced a partnership today to develop a luxury residential development in Jakarta, Indonesia.
The joint-venture company, PT Jantra Swarna Dipta (JSD), will bring together Swire Properties' expertise in designing and developing residential properties, and Jakarta Setiabudi Internasional Group's rich real estate experience in Indonesia.
Mabelle Ma, Director, Development and Valuations at Swire Properties said, "We are always looking for opportunities to expand our business in Southeast Asia, and we are excited to partner with Jakarta Setiabudi Internasional Group to bring our unique brand of upscale high-rises to Indonesia's capital city and contribute to the local property market."
Chandra Asali, President Director of JSD said, "It is a privilege to develop one of Jakarta's most prestigious addresses, and by bringing together Jakarta Setiabudi Internasional Group and Swire Properties, we are confident that this partnership will raise the bar for the property scene in Indonesia."
With its strong economic growth and position at the heart of the ASEAN region, Indonesia is one of the world's fastest emerging markets. JSD's debut high-rise apartment building will be located in the upscale neighbourhood of Dharmawangsa in South Jakarta. The development will include a host of bespoke amenities and will be situated within a three-hectare urban parkland.
This joint-venture initiative is set to showcase JSD's ethos of putting people at the heart of its developments, especially in terms of privacy and safety. In line with this thinking, the project aims to offer a unique, tranquil and vast space where residents can escape the hustle and bustle of everyday life.
Swire Properties is a Hong Kong-based property developer renowned for its exceptional luxury homes, including OPUS HONG KONG - which was designed by legendary architect Frank Gehry. The Company recently unveiled its first ultra-luxury residential project in Singapore, EDEN, a collaboration with international acclaimed designer Thomas Heatherwick of Heatherwick Studio. Swire Properties also has a portfolio of commercial and hotel properties in Hong Kong, Mainland China and the US, with Pacific Place and The Upper House in Hong Kong among the most well-known.
As a developer of luxury resort hotels as well as residential, office and retail buildings - including the Grand Hyatt and Hyatt Regency hotels, and the Setiabudi mixed-use scheme in Jakarta - Jakarta Setiabudi Internasional Group is a leading real estate corporation with over four decades of experience; and is known as one of Indonesia's most trusted brands.
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