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
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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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