Ascendas Group inks JV for mixed-use development in Greater Jakarta

It's the first major foray in Indonesia.

Ascendas Group has entered into a joint venture agreement with Indonesia’s PT Metropolitan Karyadeka Development (MKD) to develop a mixed-use development located in Tangerang, Greater Jakarta, Indonesia.

Ascendas and MKD will hold equal stakes in the 9.7-hectare mixed-use development that will be situated within Metland Cyber City.

The development will comprise a mix of offices, apartments, retail and supporting amenities. The entire development is expected to enhance Metland Cyber City as a premier destination for businesses and a vibrant lifestyle community in the Greater Jakarta region.

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