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Description

Astra's newest business line is the Property business, which was initiated back in 2013 by the Property Division of Astra International, which subsequently establishes a number of subsidiaries to manage the construction of an integrated office and apartment complex, the Menara Astra and Anandamaya Residences apartment, in Jakarta. Menara Astra is designed as 47-story Grade-A office building with a Platinum-standard Green Building classification, supported with a 1,000-person capacity convention hall and three floors of retail spaces. The Anandamaya Residences meanwhile is designed as a premium apartment complex with three towers. The Menara Astra and Anandamaya Residences apartment projects are scheduled for completion in 2018. Astra's involvement in the property business is also undertaken through PT Astra Land Indonesia, a subsidiary company, that partners with PT Modernland Realty Tbk in land acquisition and the development of a township project in East Jakarta, comprising the development of residential landed houses, apartment towers, commercial facilities, and public open space areas. Targeting the middle to upperclass segments, the township project is expected to be launched beginning in 2017-2018.