Crown Group plans vertical waterfront city for Jakarta

JAKARTA - Leading Australian developer Crown Group has unveiled its vision to build a new luxury waterfront residential precinct on the Jakarta waterfront. The development will be the first of its kind for Indonesia, with 2,000 luxury homes and its own marina, beach club and dining precinct at Ancol.

Crown Group, based in Sydney, signed an agreement with the Indonesian Government organization, PT Pembangunan Jaya Ancol, in mid-2018 to create the vertical city.

The plans will be presented to the Indonesian Government for approval later this year, with the project set to launch to market in 2020.

Crown Group Chairman and Group CEO, Iwan Sunito, said this first Crown Group project in Indonesia would herald a new era for waterfront living in the island nation and set a benchmark for residential property development in Indonesia.

The AUD$1 billion development will offer 9,000sqm of retail boutiques, restaurants and bars and a commercial precinct. There will also be a network of outdoor terraces, boulevards and jogging tracks.

The first stage is expected to be completed in 2024 with 800 apartments, a gym, spa and infinity swimming pool, and a further 1,500 apartments in the second stage.

Real estate and tourism developer PT Pembangunan Jaya Ancol Tbk is best known for developing Ancol Bay, the largest tourist park in Southeast Asia, in the 1980s.

This attracts 300,000 visitors a year, and boasts its own championship golf course, the 24-hour Ancol Dreamland amusement park, SeaWorld, various hotels, open-air markets and a marina.

www.crowngroup.com.au