Japan’s Toda begins building high-rise condo complex in Jakarta

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JAKARTA, IDFinancials – Major Japanese contractor Toda Corp. has launched construction of a high-rise condominium complex in Jakarta in a joint project with two Indonesian partners.

The company’s local real estate consultancy, PT. Toda Group Indonesia, held a groundbreaking ceremony in southern Jakarta on Thursday for the 33-month project to build the 24-story “Newton 2” complex jointly with major local property developer Ciputra Group.

Undertaking construction work on the 624-apartment building is Toda’s affiliate PT. Tatamulia Nusantara Indah. The complex will have three types of apartments, measuring 24, 40 and 60 square meters.

The main target is millennials born in the last two decades of the 20th century, according to a senior Ciputra Group official. (IDFinancials/Kyodo)

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