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Intiland signs JV with GIC for 2nd phase of Jakarta development

PT Intiland Development Tbk signed a 60/40 partnership agreement with Singapore's GIC to develop the second phase of a mixed-used complex in the TB Simatupang corridor in south Jakarta.

The South Quarter office complex will sit on a 7.2-hectare site, which is expected to be completed in 2018. Intiland has completed the first phase of development on the land, comprising 123,000 square meters of floor area spread across three 20-story office buildings and 12,500 square meters of retail space.

Together with GIC, the company will start the construction of South Quarter phase II that consists of two condominium towers, which is expected to be launched in the last quarter of 2017.