OSAKA, Japan, July 4 (Bernama-BUSINESS WIRE) — Hankyu Hanshin Properties Corp. (“Hankyu Hanshin Properties”), an 100% subsidiary of Hankyu Hanshin Holdings, Inc. (“Hankyu Hanshin Holdings”), is entering the overseas commercial real estate leasing business with the partial acquisition of two properties in Indonesia. The properties, Plaza Indonesia Complex and fX Sudirman, are both landmark multipurpose buildings in Jakarta, and Hankyu Hanshin Properties became the beneficial partial owner on June 24 through the acquisition of shares in the local entity that holds the assets.
Jakarta is one of South East Asia’s leading global cities, and the properties are located on the main thoroughfare of Jakarta’s central business district in prime positions next to stations on the North-South Line of the MRT, Indonesia’s first subway system, which opened in April 2019. Management of the properties will be carried out jointly with Bumi Serpong Damai (“BSD”), a subsidiary of major Indonesian real estate developer Sinarmas Land, and other parties. BSD has extensive previous experience with large scale commercial, office and other real estate developments in and around Jakarta, including the development of Bumi Serpong Damai City.
