Lippo Cikarang Generates $29m From Selling Apartment Units at Newport Park
Jakarta. Lippo Cikarang, the urban development arm of Lippo Group, has generated over Rp 390 billion ($29 million) from selling Newport Park apartment tower units following its grand preview in Orange County, Cikarang on Saturday (26/11).
According to Lippo Cikarang president director, Toto Bartholomeus, 87 percent of the units have been sold."This proves that the property is of high quality, built based on international standards and is the first choice for customers who want a convenient and secure place to live with the right facilities to support their lifestyle," Toto said.
The sales have shown that the property will potentially generate higher returns, which could go up to 16 to 20 percent per year, according to Lippo Cikarang director and chief marketing officer, Stanley Ang.
"There is a big chance to gain profit for Newport Park apartment owners who want to rent out their units, considering Orange County is surrounded by 2,500 multinational corporations with a large number of expatriates, marking a profitable target market," Stanley added.
Newport Park, the sixth apartment tower in Orange County, is a product of a joint venture between Lippo Cikarang and Diamond Realty Investment, a subsidiary of Japan's Mitsubishi Corporation.
It consists of one-bedroom to three-bedroom units which are 31 square meters in size, and go up to 97 square meters in size. The prices range from Rp 550 million up to Rp 2 billion.
It is the first apartment tower with smart features, including a retina-access security system, smart door lock system and smart lighting.
Japanese technology was adopted in its design and facilities. It features an ofuro (Japanese bath) spa, Japanese garden, zen balcony, and the use of tatami (flooring mats) in the rooms. Architectural firm Mitsubishi Jissho Sekkei and architect George Kunihiro were in charge of the design.
The Jakarta Globe is affiliated with Lippo Group.
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