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TOKYO, Mar 11, 2015 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce its participation in a condominium development project, dubbed "the BSD Project", to be launched by Tokyu Land Corporation (TLC) in Indonesia.
The BSD Project includes eight high-rise (31 to 34 story) towers located in Bumi Serpong Damai (BSD City), one of the biggest township developments in Greater Jakarta. BSD City covers an area of 6,000 hectares, located some 25 kilometers from Central Jakarta. MC will participate in Phases 1 to 3 with seven condominium towers collectively offering 3,000 upscale condominium units.
Jakarta's robust economic growth and rapidly increasing population have both caused a surge in property prices and compounded the difficulty of managing traffic in the city center. As a result, township and residential developments have been extended to the outer areas of Greater Jakarta. BSD City stands out among these suburban townships for having successfully attracted the development of appealing city functions such as a large-scale shopping center and the biggest convention center in Indonesia. By providing a modern, upscale living environment, the BSD Project is expected to be a landmark in the central area of BSD City.
In addition to advanced countries such as Japan and the US, MC has also been expanding its real estate development business in emerging markets, including China and South East Asia. By integrating Japan's unique technologies and product design into our projects, MC is working to supply differentiated and sophisticated real estate products to the market. As we expand our presence in the property sector in Indonesia through this Project, MC is also expanding its real estate businesses in the Philippines, Vietnam and Myanmar under this common strategy.
Contact:
Mitsubishi Corporation
Telephone: +81 3 3210 2171
Facsimile: +81 3 5252 7705
Topic: Investment
Source: Mitsubishi Heavy Industries, Ltd.
Sectors: Daily Finance, Real Estate & REIT
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From the Asia Corporate News Network
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