JAKARTA (TheInsiderStories) – Lippo Group on Thursday (May 4) revealed its plan to develop new satellite town in West Java, on the Jakarta-Bandung corridor, with estimated investment of Rp278 trillion. The new satellite town will be called Meikarta.
Meikarta satellite town will be developed on 22,000,000 square meters of land. The preparatory works have been done since 2014 and followed by land clearing in January 2016. The project will employ around 65,000 new workers.
Lippo Group, found by Mocthar Riady, claimed the project will be the largest property project ever built by Lippo. The new satellite town will be located nearby existing satellite towns such as Lippo Cikarang, Jababeka, MM2100, etc.
Recently, Lippo Group has partnered with Mitsubishi, Mitsui Corporation, Japan Satellite, Toyota Corporation to develop residential estates in the country.
The satellite town is projected to accomodate 112,000 employees of Lippo Group.
The first phase of the project will be completed within three years although some buildings can be used from 2018. Among contractors that will involve in the project development are Total Bangun Persada, Wijaya Karya, PP and others.
Among property projects to be developed within the new satellite town are as follows:
– Seven malls with total area of 500,000 sqm
– International standard hospital
– International Financial Center
– Five five-star hotels
– National library
– Theatre and Art Center
– Ten national and international standards
– Five national and international junior high schools
– Three national universities
– Industry Research Center
– International Exhibition centre
– Indonesian Silicon Valley
The group will also develop five innovation centers, namely:
– Innovative Infrastructure & Transportation.
– High Tech CBD & Research Hub.
– Business & Commercial Hub.
– Green Sustainable Living.
– Center for the Arts, Culture & Education.