JAKARTA (Yosefardi) – Rajawali Group, controlled by Peter Sondakh, and the Government of Singapore Investment Corporation (GIC) set up a property joint venture (JV) company with investment cost of US$500 million, equivalent Rp6 trillion.
GIC said the JV will develop some property projects in the central business district (CBD) in Jakarta area.
Rajawali and GIC are now building 47-floor office tower Capital Place in Gatot Subroto, targeted to complete the construction by late 2015.