Singapore Exchange–listed Sinar Mas Land has entered into a strategic partnership with Mitbana, a joint venture fund-management company of Mitsubishi Corp. and Surbana Jurong, to advance the creation of smart and sustainable transit-oriented developments (TODs) in Bumi Serpong Damai (BSD) City, Indonesia.
The partnership between Sinar Mas Land and Mitbana seeks to develop first-of-its-kind integrated TODs in Indonesia with new approaches to urban development in a post-pandemic connected world. Mitbana will work with Sinar Mas Land to transform more than 100 hectares (247 acres) of greenfield land in BSD City into TODs comprising residential units, commercial properties, living amenities and public transport nodes.
“The future growth potential of TODs in Indonesia presents many scalable development opportunities for Mitbana, and we are very excited to take this first step towards realizing our vision of becoming a leading urban development fund that transforms com