Metland developing three new commercial and residential projects this year

Beautiful Botanical Gardens in Bogor, near where the first mall of Cileungsi will be built

Property developer, Metland (officially Metropolitan Land), are to commence construction of three new commercial and residential projects throughout Indonesia this year.

Announced at the company’s press release, one of the projects prepared is to be a commercial and apartment complex within West Jakarta, marketed as Metland West City. It is due to launch by the end of 2014. Following the company’s yearly shareholder’s meeting in the Jakarta capital on Monday, the investment value of Metland West City is still to be determined.

Metland West City will be developed across 60hectares, with around half to be allotted to commercial development.

A representative went on to announce that Metland is currently in talks with numerous overseas companies, specifically from Asia, about partnering on developing mixed-use properties and malls. Metland declined to name the companies or Asian countries.

The company are also looking to build the Mal Metropolitan Cileungsi, a new mall, within the company’s existing Metland Transyogi residential area in Bogor, West Java. The project is estimated to be worth approximately Rp215billion ($18.3million). This may make Metland the first to construct a mall in the Cileungsi area.

Furthermore, the property developer also plans to begin development on Metland @ Hom Hotel within West Sumatra’s Lampung — to be worth Rp60billion — during the second half of 2014. This is as they are also in the final stages of the construction of M Gold Tower — a combined apartment and office tower within Bekasi — also due to open during the second half of 2014.

Metland is aiming for the sale of 1,400 to 1,500 residential units this year. This is at a raise of Rp1.15trillion in sales this year, with Rp400billion gained from recurring revenue including mall or residential rental fees — plus Rp750billion from pre-sales. $18.3million for the development of Mal Metropolitan Cileungsi, located inside Metland Transyogi in Bogor.