Surbana Jurong and Mitsubishi Corporation's joint venture company Mitbana will be jointly developing a multi-modal transport complex in Greater Jakarta with Bumi Serpong Damai, a subsidiary of Sinarmas Land.
The project, which is Mitbana’s first undertaking in Indonesia, involves the construction of a new transit-oriented development (TOD) located in the Intermoda district in Bumi Serpong Damai (BSD) City, a satellite township in Greater Jakarta developed and managed by Bumi Serpong Damai.
The Intermoda TOD will offer access to multiple public transportation options including road, rail, and park-and ride facilities aimed at reducing congestion from the BSD area to Central Jakarta.
The TOD will have a connection to the Cisauk Train Station, which is situated along the commuter line that connects directly to Jakarta’s Sudirman Central Business District in under an hour.
When completed, the entire Intermoda TOD will cover a land area of approximately six hectares. It will also feature a new town centre with community facilities catering to young families, working professionals and students.
The collaboration between Mitbana and SML will also explore smart technologies to enhance bus services within BSD City and other surrounding townships. These enhancements will complement Cisauk Train Station’s connection to the future Serpong-Balaraja (Serbaraja) toll road section 1A, which is expected to be operational by the end of 2021.
SEE:Sinarmas Land records almost sevenfold increase in 1H earnings to $331 mil on higher revenue, exceptional gains
Gareth Wong, CEO of Mitbana, says the company sees great potential in the Intermoda district.
“Our vision is to develop a new urban precinct with modern services conveniently located around the Intermoda TOD and to promote sustainable living by making public transport options even more accessible. We look forward to delivering affordable, quality housing that will cater to the mass market in BSD City,” he says.
Michael Widjaja, CEO of Sinarmas Land, says: “Despite the onset of COVID19, we remain encouraged by the market’s strong fundamentals and continued interest in BSD City’s product offerings. The recent announcements by our government to promote foreign investment in Indonesia presents tremendous potential for property development in BSD City.”
Shares in Sinarmas Land closed flat at 23 cents on April 9.
