Astra Property Targets Expansion Beyond Jakarta
PT Astra Land Indonesia or Astra Property, through its subsidiary PT Lazuli Karya Sarana, is building a 50-hectare residential property in Cikupa, Tangerang Regency, Banten. The land belongs to PT Delta Mega Persada, a subsidiary of PT Alam Sutera Realty Tbk (ASRI).
"The property industry is booming again. This is the right momentum for us to expand our portfolio," Astra Property President Director Djap Tet Fa said on Wednesday. Tangerang is a strategic location for the capital city buffer and is supported by various infrastructures such as transportation, shopping centers, health facilities, and educational facilities.
"This makes Tangerang an ideal area to develop property projects," he said. With 50 hectares of landbank, Lazuli Karya Sarana will develop a township or independent city containing landed residential and commercial properties. This residence targets the millennial generation, young families, and executives.