Keppel: Unit Agrees to Acquire Prime Land in Jakarta for About S$60 Million

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.

Indonesia is one of Keppel Land's key growth markets where it seeks to strengthen its presence further.

Write to Saurabh Chaturvedi at

(END) Dow Jones Newswires

September 19, 2017 05:55 ET (09:55 GMT)