KUALA LUMPUR (July 4): Hankyu Hanshin Properties Corp is entering the overseas commercial real estate leasing business with partial acquisition of two properties in Indonesia.
The properties, Plaza Indonesia Complex and fX Sudirman, are both landmark multipurpose buildings in Jakarta, and Hankyu Hanshin Properties has become the beneficial partial owner via the acquisition of shares in the local entity.
The properties are located on the main thoroughfare of Jakarta’s central business district in prime positions next to stations on the North-South Line of the MRT, Indonesia’s first subway system.
Management of the properties will be carried out jointly with Bumi Serpong Damai, a subsidiary of major Indonesian real estate developer Sinarmas Land and other parties.
Since 2015, Hankyu Hanshin Properties has been investing in residential condominiums outside of Japan, and currently has a portfolio of more than 26,000 units in five South East Asian countries. — Bernama