Daiwa Lifenext launches unit to manage Jakarta properties

02, Dec. 2020

Image shows a completed Sakura Garden City complex in Jakarta, Indonesia. Daiwa Lifenext Co. said on Dec. 1, 2020, it has engaged a local unit in Jakarta to manage properties at the complex. (Image courtesy of Daiwa Lifenext)
Image shows a completed Sakura Garden City complex in Jakarta, Indonesia. Daiwa Lifenext Co. said on Dec. 1, 2020, it has engaged a local unit in Jakarta to manage properties at the complex. (Image courtesy of Daiwa Lifenext)

JAKARTA, NNA - Daiwa Lifenext Co., a group company of Japanese homebuilding giant Daiwa House Industry Co., said Tuesday it has engaged a local unit in Jakarta to manage properties at Sakura Garden City, a residential and commercial complex being constructed in the Indonesian capital.

The unit, Pt. Daiwa Lifenext Indonesia, was set up in January capitalized at $3 million, with Daiwa Lifenext holding a 99 percent stake and its subsidiary holding the remainder. It began full operations after two Japanese employees arrived when Indonesia eased border restrictions due to the COVID-19 pandemic in October.

The construction of the 120,000-square-meter Sakura Garden City in Cipayung, East Jakarta, began in September 2017. Daiwa House Industry and Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development have jointly taken part in the development.

Sakura Garden City accommodates shopping malls, offices, hotels and hospitals and is expected to be completed in October 2027. Of the planned 12 condominium buildings containing 5,000 apartments, two are currently under construction in the complex's first stage.

The development will have good access to Jakarta's main areas as it is close to the planned Ciracas Station on an under-construction light rail line. (NNA/Kyodo)