Sinar Mas Land and Mitbana (a joint venture fund management company of Mitsubishi and Surbana Jurong) have entered into a strategic partnership to build transit-oriented developments (“TODs”) in Bumi Serpong Damai (BSD) City, Indonesia. Sinar Mas is a leading Indonesian property developer, while Mitbana is a Singaporean development fund set up in 2019 and specializing in TODs and township projects in ASEAN countries.
The companies will work together to transform over 100 hectares of greenfield land into TODs in BSD City, which has a population of 200,000 residents. Surbana Jurong, an infrastructure and managed services consulting firm will provide urban and infrastructure solutions while Mitsubishi will provide urban development expertise.
With this partnership, Mitbana will become Sinar Mas Land’s largest development partner in BSD City, which was developed in the mid-1980s and now spans a total land area of approximately 6,000 hectares.
(Source: The Straits Times)