Developer and Real Estate
Pioneering lifestyle residential apartments, office and retail spaces, an indication of not just the company’s innovative approach to property development but also its vision of the future
The property division was started with the vision of providing homes to the people of Indonesia and later on extended to creating spaces for offices and shopping. Duta Pertiwi started building in 1988 and has substantial interests in various undertakings such as residential, apartments, commercials, shopping centers, hotels, office buildings, industrial estates and townships.
The vision of Sinar Mas for the future helped Duta Pertiwi to take advantage of strata title sales opportunities for retail space in Indonesia, with the launch of Mangga Dua International Trade Centre (ITC Mangga Dua) in 1989. Owing to certain legislations, which were announced in 1985, real estate developers had the flexibility to subdivide fixed plots of land to accommodate multiple owners. Duta Pertiwi was also the first to successfully combine condominium, retail space and offices as mixed-use superblock developments. They have not only enabled the company to achieve a higher margin than other types of property development but have also reduced the company’s exposures to fluctuations in the market. One of such development in Jakarta, launched in 1989, transformed a 29-hectare section of underdeveloped land into a thriving business and residential community. The company has also pioneered in the development of condominium apartments for local owners, Indonesia’s first high-rise strata title condominium development, completed in January 1994, was a trailblazer, an indication of not just the company’s innovative approach to property development but also its vision of the future.
For more information, please visit www.sinarmasland.com