Jakarta. Waskita Karya Realty, a subsidiary of Waskita Karya, is set to cooperate with Modernland Realty in developing 350 hectares in Bekasi, West Java, into a city with toll roads integrated with public transportation facilities.
The project will connect the Tanjung Priok-Cibitung Toll Road to the city's train and bus systems. The development is in line with government's plans to develop more housing estates, public spaces, schools, hospitals and business districts.
"The collaboration between Waskita Karya Realty and Modernland Realty is strategic, in line with the companies' commitment to develop residential areas with access to mass transportation," Waskita Karya president director Tukijo said in a press release on Wednesday (07/03).
"There is an upward trend on the property market. Given the significant size of the development area, Waskita Karya Realty chose Modernland Realty as its strategic partner," he added.
Waskita Realty has a rich property portfolio consisting of apartments, hotels and office towers. Earlier this year, it launched Nines Plaza & Residences in Serpong, Banten, and soft-launched Solterra Place in Pejaten, South Jakarta.
This year, the company plans to focus on transit-oriented development projects and cooperate with state-owned enterprises.