Keppel Land to jointly develop landed homes with Metland in Greater Jakarta

KEPPEL Land and PT Metropolitan Land Tbk (Metland) will jointly develop landed homes in Greater Jakarta.

Keppel Land, through its wholly owned subsidiary PT Sukses Manis Indonesia, has taken a 50 per cent stake in a joint development with PT Metropolitan Permata Development, a subsidiary of Metland, one of Indonesia's leading property developers.

The total consideration of the 50 per cent stake is 250 billion rupiah (S$26.8 million). The joint development will yield about 450 landed homes on a 12-ha site in Tangerang, a satellite city located adjacent to West Jakarta.