SINGAPORE (Yosefardi) – Centurion Corporation Limited has acquired a 7,220 square metre plot of land in Jakarta, Indonesia for the development of worker accommodation.
The land and the ensuing worker accommodation asset will be developed, owned and operated by
Centurion’s wholly owned subsidiary, PT Westlite Accommodation Cibitung (PTWAC), which has just been incorporated in Indonesia.
The total consideration paid for the land was approximately S$0.8 million and was funded by internal resources.
The proposed accommodation is located in the eastern part of Jakarta in Bekasi District, which is approximately 30 km from Central Jakarta. The area comprises several established industrial parks, including Cibitung Industrial Park, which is approximately a seven-minute drive away.
There are more than 200 multi-national companies (MNCs) operating in the Cibitung Industrial Park including well-known names like LG Electronics, Panasonic and Sumitomo. The estimated number of workers working in and around Cibitung Industrial Park is approximately 100,000.
Most of these MNCs are manufacturing based and are in need of accommodation services for their workers. Due to adverse traffic conditions in Jakarta, workers and working executives prefer to live close to their workplace which can result in considerable cost savings and reduced travelling times.
The proposed accommodation facility in Cibitung comprising approximately 750 apartment units will target and house workers as well as middle-level executives working in nearby industrial parks. The accommodation is expected to be completed in 2016.