Development of Serviced Apartments in Indonesia
Shimizu Corporation (President: Kazuyuki Inoue) will invest roughly 3.6 billion yen via its real estate business subsidiary in Indonesia and begin development of serviced apartments offering the livability and functionality of both hotel service and a condominium. The apartments will be developed in the Cikarang industrial park, in the eastern part of Jakarta, the capital, and development could start as early as mid-December. The Indonesian subsidiary of Shimizu has reached an agreement with the local subsidiary of Fujita Kanko Inc. on concluding a leasing agreement for the entire building under development. Shimizu resumed overseas investment development in 2011, but this will be the first time that Shimizu has undertaken the business on its own.
