photo credit: basibanget
The global arm of a Dubai property company has revealed it will develop a $1.7 billion investment project in Indonesia.
Limitless, part of Dubai World, will build Rasuna Epicentrum in Jakarta – featuring new homes for thousands of people in hi-tech towers.
The company said the development will be fully open to foreign property investment professionals and will feature at the forthcoming Cityscape Dubai property convention.
Limitless chief executive officer Saeed Ahmed Saeed said:
“Our entry into Indonesia cements our commitment to South-East Asia, where we have made huge strides since launching our operations there nine months ago. Rasuna Epicentrum will take urban renewal to new levels.”
Retail and entertainment facilities will be part of the development, which will cover 1.2 million square metres of tower space and be built over the next eight years.
Limitless is already involved in a host of worldwide investment property projects in locations such as Vietnam, Malaysia, Jordan and the United Arab Emirates.
Rasuna Epicentrum emerged following an agreement between Limitless and the Jakarta-based company Bakrieland Development.
The project will be based in Jakarta’s ‘Golden Triangle’, a fast-growing business district.
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