trending Market Intelligence /marketintelligence/en/news-insights/trending/hffjdifhddolwmngvloj6w2 content esgSubNav
In This List

Perennial Real Estate eyes 60% stake in 1.6 trillion-rupiah Indonesian project

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Perennial Real Estate eyes 60% stake in 1.6 trillion-rupiah Indonesian project

Perennial Real Estate Holdings Ltd. is looking to secure an indirect 60% stake in the company overseeing the development of a 1.6 trillion-rupiah residential project in Sentul City, Indonesia.

The Singapore-based company's Perennial SL Pte. Ltd. subsidiary will buy the entire stake in Sanctuary City Pte. Ltd. from an unrelated vendor for US$15.6 million. The target owns the 60% stake in PT Bhakti Bangun Harmoni, the developer of the 246,982-square-meter Sentul project. Local company PT Cipta Harmoni Lestari holds the remaining 40% in PT Bhakti Bangun.

The Sentul project will contain a minimum gross floor area of 147,000 square meters and more than 1,700 housing units.

According to a news release, Perennial will finance the transaction using a combination of external borrowings and internal funds.

As of May 31, US$1 was equivalent to 13,913.00 rupiah.