TEE Land to acquire land parcels in Indonesia for $4.9m

It will be used to develop affordable housing.

TEE Land is mulling the acquisition of three land parcels in Batam, Indonesia for a purchase price of $4.9m.

The land will be used for the development of affordable housing and commercial development.

“With the recent boom in the aerospace industries in Batam, there is a shortage of affordable housing for the local Indonesians and immigrants,” TEE Land stated in a release.
 

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