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JOIN Supports the Mixed-use Urban Development Project in the suburb of Jakarta

Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN, headquartered in Chiyoda-ku, Tokyo, President & CEO: Takuma Hatano) received approval from the Minister of Land, Infrastructure, Transport and Tourism today to invest up to a maximum of JPY3.4 billion to participate in the mixed-use urban development in the suburb of Jakarta, Indonesia. The project is a joint investment together with Mitsubishi Corporation (MC, headquartered in Chiyoda-ku, Tokyo, President and CEO: Takehiko Kakiuchi), Nishi-Nippon Railroad (Nishitetsu, headquartered in Chuo-ku, Fukuoka, President: Sumio Kuratomi), Hanshin Electric Railway Co., Ltd. (Hanshin, headquartered in Fukushima-ku, Osaka, President: Takaoki Fujiwara, and Keikyu Corporation (Keikyu, headquartered in Minato-ku, Tokyo, President: Kazuyuki Harada).

This is an urban development project located in Bumi Serpong Damai City (BSD City), approximately 6,000hectare satellite township development under BSDE※ located 25km southwest of central Jakarta, involving the construction of landed houses and shop houses. The investment will be made by MC, Nishitetsu, Hanshin, Keikyu and JOIN into the joint venture company in Japan (Japan JVC), which will co-invest alongside with BSDE into the joint venture company in Indonesia (Indonesia JVC).

※BSDE: PT Bumi Serpong Damai TBK. is an Indonesia based company affiliated to Sinarmas Land (SML), that is one of Indonesia’s largest leading real estate enterprises.

The project aims to provide landed houses and shop houses in accommodation to the robust and continuous housing demand lead by steady economic growth and population increase in the suburb of Jakarta.

JOIN’s support aims to encourage the participation of Japanese railway companies for the first time in Indonesia so that they may provide Japan’s expertise and know-how which would contribute to BSD City’s transit oriented development (TOD) . This support is also expected to expand future business opportunities for Japanese companies.

JOIN Supports the Mixed-use Urban Development Project in the suburb of Jakarta（824/KB）