Keppel Land, through its wholly-owned subsidiary, Keppel Land, has signed a non-binding general collaboration agreement with PT Metropolitan Land Tbk (Metland) to cooperate on residential projects owned and occupied by Metland in Greater Jakarta, with an investment value of up to Rp. 5 trillion ($343 million).
Under the agreement, Keppel Land and Metland will each inject an equal amount of capital for joint residential projects. The cooperation follows Keppel Land and Metland's first collaboration to develop about 500 landed homes at The Riviera at Puri, a gated riverfront estate in Tangerang, Greater Jakarta. Keppel Land and Metland are also exploring a residential site in East Jakarta.
Keppel has been present in Indonesia for over two decades. Keppel Land has four residential projects in Greater Jakarta which will yield over 8,300 quality homes. This includes The Riviera at Puri, West Vista at Puri, a high-rise residential development in Jakarta's central business district along Jalan Jenderal Sudirman, as well as a residential project in West Jakarta.
