Yishan Capital Partners and Baruna Realty to launch new Jakarta office development
29 October 2012
News, Asia, Indonesia
By Asia Asset Management
Yishan Capital Partners, an independent real estate investment and asset management firm with a sole focus on Southeast Asia, and Baruna Realty, an Indonesia-based property developer, today (October 29) announced the launch of a development project for commercial office space in central Jakarta. The project will cover 3,876 square metres and cater towards mid-sized businesses in the services and medical industries. It is expected to be completed in Q4 2013.
The project is located in a high density area of the capital and sits on Jl. Fatmawati, one of the main roads in Jakarta. It is also set to benefit from improved infrastructure, including the extension of the MRT line, together with rising demand for service-related business, including medical providers.
The joint venture behind the project combines the global investment and asset management expertise of Yishan Capital Partners with the entrepreneurial property development skills of Baruna Realty, which has a strong reputation for innovative architecture and construction quality.
John van Oost, managing partner at Yishan Capital Partners, says: “We are delighted to partner with the team at Baruna Realty, who share our highly disciplined approach to property development. The first development taps into rising demand for office space in residential Jakarta, particularly those catering to medical services. We have ambitious objectives for our joint venture, and have a number of residential and commercial development projects under consideration.”
With incomes rising among a population of 242 million, Indonesia is one of the largest and fastest growing economies globally. The country benefits from a diversified economy – underpinned by strong fundamentals – an expanding working-age consumer class and thriving urban centres across the archipelago.
Okie Imanto, president director at Baruna Realty, says: “The joint venture is an opportunity for two strong partners to combine and develop a commercial project which is high in demand, particularly in the area of south Jakarta. We will continue to cooperate, building on the foundations of the first development, and seek new projects which will benefit our investors and the general public.”
Mr. van Oost adds that the joint venture was targeting land acquisition in the southern area of Jakarta. The projects, he said, will respond to the increased demand for smaller but higher quality properties.
More News >
Discuss: Yishan Capital Partners and Baruna Realty to launch new Jakarta office development