Crown Group unveils maiden waterfront precinct project in Jakarta

/ EdgeProp
May 21, 2019 12:59 PM SGT
Australian developer Crown Group has unveiled its maiden precinct project in Jakarta, Indonesia. The waterfront project will comprise about 2,000 luxury homes and will feature its own marina, beach club, and dining area.
The entire development will be built on a 4.7ha site and is expected to cost about A$1 billion ($950 million). It will also feature retail shops, restaurants, and its own commercial area. The first phase comprising 800 apartments is expected to be completed by 2024, while another 1,500 apartments are planned for the second phase.
Crown Group has unveiled its vision to build a new luxury waterfront residential precinct on the Jakarta waterfront (Picture: Crown Group)
“The vision is to create a landmark that will be the jewel of Indonesia and a marina that the world hasn’t seen before,” says Iwan Sunito, Crown Group’s chairman and CEO. “We will be the first to bring waterfront living to Jakarta, inspired by the world’s best – Sydney’s famous Darling Harbour and Circular Quay – through the development of vertical mixed-use residences.”
The precinct has been planned to comprise of several towers and will also include a luxury waterfront living concept designed by Japanese-Australian architect Koichi Takada. It will feature a yacht club, waterfront promenade, and beach-style dining.
The Sydney-based developer signed an agreement with the Indonesian government organisation PT Pembangunan Jaya Ancol earlier this year to develop the precinct project. Plans for the precinct development will be presented to the government for approval later this year, and the project is expected to launch for sale next year.