Mitsubishi Estate to participate in Daswin Project
The Jakarta Post
Jakarta | Tue, November 1, 2016 | 11:54 pm
Mitsubishi Estate Co., Ltd. announced on Tuesday that it had agreed to participate in the Daswin Project, an office building development project in Jakarta.
Mitsubishi Estate said it would collaborate with Gesit, a business group working in the manufacturing, property, trading and mining industries, and Santini Group, a diversified business group covering automotive parts, infrastructure, natural resources, property development and services, for the project.
“Mitsubishi Estate will participate in the project by acquiring SPE [special purpose entity] shares financed by both Gesit and Santini,” it said in a statement made available to The Jakarta Post on Tuesday.
The project is a large-scale development on approximately 16,000 square meters of land in Central Jakarta. It will consist of a 46-story Grade A office building with retail and multifunction facilities on the lower levels, with a total floor area of over 130,000 square meters.
The project is the first business opportunity for Mitsubishi Estate to develop an office building in Indonesia. Both Gesit and Santini have high expectations of the Mitsubishi Estate Group given its development expertise. Mitsubishi Estate aims to fully utilize the knowledge that the Mitsubishi Group has developed.
Mitsubishi Jisho Sekkei Co., Ltd. will be in charge of architectural design. Meanwhile, Mitsubishi Jisho Property Management Co., Ltd. will be in charge of advising the property management.
Indonesia has continued to promote economic growth among ASEAN nations. The country’s economy is expanding at an annual rate of about 5 percent and it is expected to continuously move forward.
“Through this project, the Mitsubishi Estate Group hopes to contribute to Indonesia's economy by combining the real estate development know-how that it has accumulated around the world and planning capabilities to continue to implement real estate business globally.” (ebf)