Metro unit to invest S$114m in Jakarta residential project
The Bintaro project will occupy a site area of 1.6ha and comprise two residential towers
Singapore
PROPERTY development and investment group Metro Holdings has tied up with the Trans Corpora Group (Trans Corp) to develop, market and sell two residential towers in Bintaro, Jakarta, for a total investment value of 1.33 trillion rupiah (S$127 million).
Metro has committed to fund 90 per cent of the investment, or about 1.20 trillion rupiah (S$114 million) through its unit, Metro Property Investment (MPI). The Lee Kim Tah Group, which owns the remaining 10 per cent of MPI, will contribute 10 per cent.
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