Singapore's Ascendas in JV for Greater Jakarta mixed-use project

May 20, 2015 7:45 AM

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SINGAPORE May 20 Singapore's Ascendas Group said it would form a joint venture with Indonesia's PT Metropolitan Karyadeka Development (MKD) to build a mixed-use project located in Greater Jakarta.

Ascendas and MKD will hold equal stakes in the project. MKD is a joint venture between a unit of property developer PT Metropolitan Land Tbk and privately owned Karyadeka Group.

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