GIC in joint venture to own, develop mixed-use complex in Jakarta

SINGAPORE (April 3): Singapore sovereign wealth fund GIC announced Monday that it has formed a joint-venture with Indonesian property developer PT Intiland Development Tbk to own and manage an integrated mixed-use complex in Indonesia.

The South Quarter complex occupies 7.2 hectares in the TB Simatupang corridor in South Jakarta – a popular business hub where many multinational companies are located.

Together with GIC, Intiland will develop South Quarter Phase II, which comprises two condominium towers expected to be launched in the fourth quarter of 2017.

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