Keppel Corp. Ltd. (BN4.SG) Tuesday said a group subsidiary has agreed to buy a prime land in Jakarta's central business district for about S$60 million (US$44.5 million) from Bank Central Asia.
In a stock exchange filing, the diversified conglomerate said its unit Keppel Land Ltd. plans to develop a premium high-rise tower with about 400 luxury apartments on the site at an estimated cost of S$170 million.
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Indonesia is one of Keppel Land's key growth markets where it seeks to strengthen its presence further.
Write to Saurabh Chaturvedi at firstname.lastname@example.org
(END) Dow Jones Newswires
September 19, 2017 05:55 ET (09:55 GMT)