Jakarta. Property developer Metropolitan Land, better known as Metland, will commence construction of three new residential and commercial projects across Indonesia this year.
One of the projects set to be put into motion, according to the company’s press release, is an apartment and commercial complex in West Jakarta, marketed as Metland West City.
Nanda Widya, president director of Metland, said the company plans to launch the project by the end of the year.
“We’re still exploring the market… This will be a high-end residence,” he said to
reporters after the company’s annual shareholder’s meeting in Jakarta on Monday, adding that the investment value of the project has yet to be determined.
reporters after the company’s annual shareholder’s meeting in Jakarta on Monday, adding that the investment value of the project has yet to be determined.
Metland West City will be built on 60 hectares of land, with approximately half of it to be allocated for commercial development.
Company corporate secretary Olivia Surodjo added that Metland is currently talking to several overseas companies, specifically from Asia, to partner on developing malls and mixed-use property. She declined to name the countries or the companies.
Metland also seeks to build a new mall — called Mal Metropolitan Cileungsi — inside Metland Transyogi, the company’s residential area in Bogor, West Java. The project is estimated to cost around Rp 215 billion ($18.3 million).
“I think I can say that we may be the first to build a mall in the Cileungsi area,” the president director said.
In addition, the property also plans start development on Metland @Hom Hotel in Lampung, West Sumatra — a project valued at Rp 60 billion — in the second half of this year.
Metland is currently also finalizing the construction of M Gold Tower — an integrated apartment and office tower in Bekasi — which is scheduled to open in the second half of this year.
Metland is targeting the sale of 1,400 to 1,500 residential unit this year. It aims to raise Rp 1.15 trillion in sales this year, with Rp 400 billion from recurring revenue — such as mall or residential rental fees — and Rp 750 billion from pre-sales.$18.3m for the development of Mal Metropolitan Cileungsi, located inside Metland Transyogi in Bogor.
By Vanesha Manuturi Manuturi
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