Batam, Riau Island. Singapore-listed developer Sinar Mas Land has unveiled a Rp 9 trillion ($644.85 million) plan to develop Nuvasa Bay, its latest residential and mixed-use property project on Batam island, Riau.
The project, which will occupy 228 hectares of land, follows the company's two previous endeavors, Taman Duta Mas and Palm Springs Golf & Coutry Club.
"We will develop Nuvasa Bay for 15 years, with a total investment of Rp 8 trillion-Rp 9 trillion," Isaac Chandra, Sinar Mas's chief executive officer of strategic development and services, said over the weekend.
The company is targeting to attract foreign and local buyers for its newest property, which will be developed in three stages over a seven-year, five-year, and three-year period respectively.
Investment for the first phase is estimated to reach Rp 4 trillion for building 1,100 landed houses and 4,000 apartment units.
"That represents 50 percent of the total units we plan to build by 2030,"Isaac said.
Sinar Mas controls two property developers listed on the Indonesia Stock Exchange (IDX): Bumi Serpong Damai and Duta Pertiwi.
Sales in Bumi Serpong Damai has been muted this year amid weakening consumer demand for property in the country, forcing the company to pospone three projects in Jakarta and Samarinda, East Kalimantan.
source : internet
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Investment for the first phase is estimated to reach Rp 4 trillion for building 1,100 landed houses and 4,000 apartment units.
"That represents 50 percent of the total units we plan to build by 2030,"Isaac said.
Sinar Mas controls two property developers listed on the Indonesia Stock Exchange (IDX): Bumi Serpong Damai and Duta Pertiwi.
Sales in Bumi Serpong Damai has been muted this year amid weakening consumer demand for property in the country, forcing the company to pospone three projects in Jakarta and Samarinda, East Kalimantan.
source : internet
IndraBlissPark.com | +62 822-4545-5452
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