Karawaci, Banten. Lippo Karawaci, a property developer arm of Lippo Group, kicked off construction on Wednesday of an integrated property project it says is worth Rp 200 trillion ($15 billion) in the central business district of Lippo Village township in Karawaci, Tangerang district of Banten province.
The property project, branded as “Millennium Village: The Global Smart City,” will be developed on a 70-hectare area within the 131 hectares that comprise Lippo Village’s CBD.
“With the start of the construction on Millennium Village, I can say now that we are building an integrated city in Lippo [Village’s] CBD in Karawaci,” Lippo Group chairman Mochtar Riady said in his keynote speech at the development’s groundbreaking ceremony.
Ketut Budi Wijaya, president director of Lippo Karawaci, the country’s biggest listed property company by market value, Ivan Budiono, chief executive of Lippo Homes, a division of Lippo Karawaci, and representatives from Aryaduta Hotel Group, Lippo Malls Indonesia, Siloam Hospitals Group and Pelita Harapan University, were also present for the ground-breaking ceremony.
“Millennium Village is one of the biggest and latest projects developed by Lippo Karawaci. The location for the project is the best in all of Lippo Village," Ketut said. "It will be developed according to the master plan for the Global Smart City concept, which will make the Millennium Village on par with cities that have the best standard of living in the world.”
When completed, Millennium Village will have office buildings and its site is located near Pelita Harapan University, Aryaduta Lippo Village Hotel, Imperial Golf Club, and hangout places such as Benton Junction and Supermal.
Millennium Village has access to the Jakarta-Merak toll road.
“For the first phase, two apartment towers Hillcrest House and Fairview House will be completed in mid-2018,” said Ivan of Lippo Homes. “Units at Hillcrest House have already been sold out since the grand preview last year."
Marketing for the other tower, Fairview House, will launch in March, he added.
The Jakarta Globe is affiliated with Lippo Group.