Mitsubishi to build $260m office building in Jakarta

The company will collaborate with manufacturing company and property developer Gesit Group and diversified conglomerate Santini Group to develop the project, which is slated for completion in 2020.
“The project is the first business opportunity for Mitsubishi Estate to develop an office building in Indonesia and Mitsubishi Estate fully intends to utilise the know-how of the Mitsubishi group as a whole,” Mitsubishi said in a statement on Tuesday.
Mitsubishi Jisho Sekkei will oversee the architectural design, while Mitsubishi Jisho Property Management will advise the property’s management. 
Both companies are subsidiaries of Mitsubishi Estate.
The Daswin project will be located on 16,000 square metres of land and consist of a 46-storey office building with retail and multifunction facilities on the lower floors, adding up to total floor area of over 130,000m2.
The company has run businesses in diverse fields related to real estate in Japan, including office buildings centred around the Marunouchi district in central Tokyo and retail, residential and hotel properties.
The company is also in the US, the UK and Asian countries such as China, Singapore and Indonesia.
“Indonesia is proactively promoting economic growth among Asean nations. 
“The economy is expanding at an annual rate of about 5 per cent and further growth is expected going forward,” the company said.
“Through this project, Mitsubishi Estate hopes to contribute to the country’s economy by combining the real estate development know-how that it has accumulated around the world.”