SINGAPORE (EDGEPROP) - Australian developer Crown Group is planning to build a luxury waterfront residential development at the Ancol seaside bay in Indonesia’s capital city, Jakarta.
The A$1 billion ($0.9 billion) development comprises 2,000 luxury homes spread across a series of towers on a 4.7ha site. It will also have its own marina and commercial precinct. There will be 9000 sq m of retail boutiques, restaurants and bars, as well as a network of outdoor terraces, boulevards and jogging tracks.
Sydney-based Crown Group signed an agreement with Indonesian government organisation PT Pembangunan Jaya Ancol in early 2019 to create the vertical city. Plans will be presented to the Indonesian government for approval later this year, and the project is set to launch to market in 2020, announced Crown Group in May. So far, the development has yet to be approved by the government.
The first stage is expected to be completed in 2024 with 800 apartments, a gym, spa and infinity swimming pool. A further 1500 apartments is set to be completed in the second stage.
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