Sojitz Affiliate Puradelta Lestari Listed on Indonesia Stock Exchange
Jun. 1, 2015
On May 29th, Sojitz Group affiliate PT. Puradelta Lestari Tbk (“PDL”) was listed on the Indonesia Stock Exchange. This comprehensive urban development company is an investment project between Sojitz and Indonesian conglomerate Sinar Mas Group’s real estate arm, Sinar Mas Land Group.
PDL is currently carrying out development and management of Deltamas City, an approximately 3000-hectare residential, commercial, and industrial urban development project located just outside of Jakarta in the Bekasi Regency. As part of that project, PDL is also working on development of the Greenland International Industrial Center (“GIIC”), an industrial park which covers approximately 1,300 hectares of land in Deltamas City. The GIIC provides a number of services, installing infrastructure and security necessary to satisfy Japanese tenants, taking care of necessary licensing protocol for companies entering the area, helping tenants move in, and supporting logistics operations to name a few. They have now started up operations at their rental factories, making the park more tenant-friendly than ever before.
A total of 80 tenant companies have moved into the park (64 of which are Japanese companies). These consist of both automobile assemblers and a number of other manufacturing companies, including manufacturers of automobile parts, motorcycle parts, foods, agricultural products, and daily-use products. GIIC has moved into their second phase of lot sales, offering lots from roughly 1 hectare to 100 hectares in size, to meet the diverse needs of their customers.
PDL’s listing on the Indonesia Stock Exchange was done not only to raise the company’s credit strength through incorporation, but also to accelerate infrastructure investment and acquire land for company use. They aim to utilize any new capital acquired from the market towards the development of urban living spaces which satisfy both Japanese staff on dispatch to the GIIC as well as local residents. This means making the GIIC even more convenient through more on-site rental factories, service apartments, business hotels, and an area which is scheduled for development into an Aeon Mall. In turn, this will raise value for investors, accelerate Japanese companies’ investment in Indonesia, and contribute to the country’s economic development.
Puradelta Lestari Overview
|Company Name||PT. Puradelta Lestari Tbk (“PDL”)|
Kota Deltamas Jalan Tol Jakarta Cikampek KM37,
|Sojitz: 22.5%, Sinar Mas Land Group: 45%|
|Main Business||Development and management of land combining residential, commercial, and industrial functions|
Deltamas City Overview
|Location||Bekasi Regency, West Java Province, Indonesia|
|Description||Complex city combining residential, commercial, and industrial areas|
|Development Area||Approx. 3,000 hectare total development area (of that, 1,300 hectares allotted to the GIIC)|
Greenland International Industrial Center (GIIC) Overview
|Start of Development||July 2008|
|Basic Infrastructure and Facilities||Electricity, water supply, water treatment, communications, gas, logistics center, rental factories (available from 1,100m2)|
|Development Area||Approx. 1,300 hectare total development area (Phase 1: ≈700 hectares, Phase 2: ≈600 hectares)|