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JOIN Supports the Urban Development Project – Mega Kuningan Project – in Jakarta, Indonesia

Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN, headquartered in Tokyo, President & CEO: Takuma Hatano) received approval today from the Ministry of Land, Infrastructure, Transport and Tourism following its decision to invest JPY 6.5 billion to participate in the urban development project in central Jakarta of Indonesia jointly with Tokyu Land Indonesia (headquartered in Jakarta, President Director: Keiji Saito).

This project encompasses the development of a mixed-use complex urban area comprised of housings (sale and rent) and commercial facilities on about 1 hectare area located in Mega Kuningan - one of the major redevelopment areas in Jakarta Central Business District (CBD). For Tokyu Land, it will be its first large-scale rental housing project in Indonesia and is expected to be a precedent for Japanese companies conducting business overseas in the rental housing field as there are still only a handful cases of business entry by Japanese companies compared to the sale business.

In this project, Japanese companies will undertake the development, design, construction, management and operation functions from the beginning to the end of the project and may also consider the introduction of advanced equipment of Japanese manufacturers such as HEMS (Home Energy Management System). We believe that the project will lead to the promotion of Japan’s high-quality construction technology and after-sales service as well as the improvement of Japanese companies’ presence.

Moreover, as the maintenance of the pedestrian areas in Jakarta is not sufficient, the project will promote a pedestrian-friendly development by making a full use of Japan’s experience. The project will secure a sufficient walking space by widening the surrounding roads and creating a bustling space integrated with the low-rise commercial facilities.

（Project Summary）
・Usage：Housing Complex, Commercial Facilities
・Site Area：About 1 ha
・Total Floor Area：About 110,000 ㎡(planned)
・Completion Period：2022 (planned)
 

JOIN Supports the Urban Development Project - Mega Kuningan Project - in Central Jakarta