Develop Residential Areas, Sinar Mas Land And Astra Land Indonesia Establish Strategic Cooperation

Illustration - (Photo: Doc. Sinarmas Land)

JAKARTA - Sinar Mas Land through PT Bumi Serpong Damai Tbk (BSDE) and Astra Land Indonesia has officially formed a joint venture to build a new residential project.

On the other hand, this strategic partnership agreement related to the expansion of the property business was signed by Astra Land Indonesia and Sinar Mas Land on April 30, 2024.

The signing was carried out by the Deputy Group CEO of Strategic Development & Assets Sinar Mas Land Herry Hendarta, Sinar Mas Land CFO Group Jani Harjanto and Bumi Serpong Damai Syukur Lawiena and Astra Land Indonesia President Director Wibowo Muljono and Astra Land Indonesia Director Kurniawan Kasudarman.

Meanwhile, the strategic collaboration between the two property developers will be realized in building residential clusters that offer housing according to the needs and modern lifestyles of today's society.

In addition, the project is expected to be the basis for a better quality of life and is the main choice for people who want the experience of living in a comfortable and modern residence, in the midst of a fast-growing independent city.

Deputy Group CEO of Strategic Development & Assets Sinar Mas Land, Herry Hendarta said, his party has established a strong relationship and feels very happy to be back partnering with Astra Land Indonesia.

Previously in 2023, Sinar Mas Land and Astra Land Indonesia worked together to build a new township project covering an area of approximately 70 hectares in the Cibubur area. The company together with Hong Kong Land have also collaborated to build Navapark, a high-end residential project of approximately 80 hectares in BSD City.

"In this collaboration, we will take advantage of the best expertise and experience possessed by the two companies to present high-quality residential products. We believe that the partnership will succeed and have a positive impact in the property industry", he explained in his official statement, Sunday, May 19.

Herry added that as the largest property development company with its various products, Sinar Mas Land has proven to be able to produce a series of high standards projects as well as win a series of awards throughout 2023.

According to Herry, various projects undertaken, such as residential, commercial, retail, business and offices are able to bring companies to achieve various prestigious awards in the property sector, both nationally and internationally.

"A series of awards are clear evidence of Sinar Mas Land's dedication as a top developer for the quality and experience provided in the property world," he explained.

President Director of Astra Land Indonesia, Wibowo Muljono said, Astra Land Indonesia has a commitment to always provide the best quality of life, one of which is by choosing partners who have a good track record in the property industry.

"For this reason, we welcome positively the continuation of Astra Land Indonesia's strategic partnership with Sinar Mas Land today," he said.

Wibowo said that his party is optimistic that this project will be successful in presenting residential areas that provide high standard of life, and attract the interest of many people to invest.

He said, Astra Land Indonesia as a development company and property investment that is committed to quality, also always prioritizes the principle of sustainability in various business aspects.

According to him, this is manifested in various sustainability initiatives in every residential project from Astra Land Indonesia, both in terms of design, building materials, the surrounding environment to residential operations in the future.

"Through the property developed and managed, Astra Land Indonesia ensures the improvement of the quality of life of all stakeholders," he said.