Jakarta. Singaporean property developer Keppel Land has picked Acset Indonusa, a listed Jakarta-based property developer, to build its 2,855-unit high-rise residential property in West Jakarta amid efforts to boost its residential portfolio in Southeast Asia's largest economy.
"We have confidence in Acset's experience and capabilities for the timely delivery of West Vista," Sam Moon Thong, president of Keppel Land for Indonesia, said in a recent statement recent.
The West Vista project, which is be located along the Jakarta Outer Ring Road, started construction last month, according a statement.
Acset Indonusa's affiliated local conglomerate Astra International has participated in the construction of various high-profile, mixed-use properties in Jakarta, such as the Pacific Place project, Agung Podomoro's Gandaria City and Pakuwon's Kota Kasablanka.
"With the construction of West Vista progressing on track, as well as the planning of our second residential project well underway, Keppel Land is in a strong position to meet the city's demand for quality, well-planned residential development," Thong said, referring to another residential project in the West Jakarta it acquired earlier this year.
Keppel is in the last stage of construction for the second tower of the International Financial Center Jakarta. The 48-story office tower is scheduled to reach completion in the first quarter of 2016, offering as many as 50,200 square meters of office space.