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Mitsubishi Corporation

Press Room

September 14, 2020
Mitsubishi Corporation

Mitsubishi Corporation and Surbana Jurong joint venture to form partnership with SinarMas Land to advance smart, sustainable transit-oriented developments in Indonesia

Mitsubishi Corporation (MC) has announced today that its joint venture company with Surbana Jurong (SJ), “Mitbana Pte Ltd” (Mitbana), has formed a significant partnership with leading Indonesian property developer Sinar Mas Land (SML) to advance smart and sustainable Transit-Oriented Developments (TODs) in BSD City, Indonesia.
 
BSD City, located in South Tangerang, Greater Jakarta, is SML’s flagship town development that had started its development in the mid-1980s. Building on BSD City’s track record, Mitbana will work with SML to transform over 100 hectares of greenfield land into TODs comprising residential units, commercial properties, living amenities and public transport nodes. This undertaking will enlarge BSD City’s existing development footprint and expand on its current population of 200,000 residents.
 
Drawing on best practices from Japan and Singapore, Mitbana aims to develop first-of-its-kind integrated TODs in Indonesia that will address major trends in today’s urban development landscape including master planning in a post-pandemic world, and adoption of smart and sustainable technological solutions. The development also supports the Indonesian government’s focus on infrastructure development in Jakarta, which will result in better connectivity for commuters and residents.
 
The partnership is envisaged to harness the complementary expertise of all parties. Mitbana will leverage Mitsubishi Corporation’s global experience in real estate developments including integrated developments and technology implementation in diversified industry as well as SJ’s technical capabilities in master planning, urban, residential and industrial development. As one of Indonesia’s largest and most established conglomerates, SML will offer its strong local knowledge and track record in growing BSD City.
On the other note, MC has also signed a MOU with SML back in March 2020 in order to have a broader discussion for the strategic partnership with regards to town management and the implementation of the smart and digital solutions for overall BSD area of circa 6,000ha. This partnership between MC and SML aims to increase the value of BSD city by the implementation of the smart and digital solutions, such as AI/IoT platform, City portal, mobility and energy technologies etc. through the various business groups of MC.
 
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【Project Organization Structure】
About SML
Company Name  : Sinarmas Land Ltd.       
Head Office         : 108 Pasir Panjang Road #06-00 Golden Agri Plaza Singapore, 118535          
Representative   :Michael Widjaja, Group CEO
Business             : Real estate development in Indonesia and overseas market.
 
About BSD
Company Name  : PT. Bumi Serpong Damai  
Head Office         : SinarMas Land Plaza, Jl. Grand Boulevard, Tangerang, 15345, Indonesia         
Representative   :Franciscus Xaverius Darmali, President Director
Business             : Real estate development in Indonesia. Master developer of BSD City.
 
 
About Mitbana
Company Name  : Mitbana Pte. Ltd.
Head Office         : 167, #13-10 Jalan Bukit Merah, 5 Connection One, Singapore 150167
Representative   : Gareth Wong Wei Han, CEO, Hidetoshi Suzuki, COO
Shareholders      : MC 50%, SJ 50%
Business             : Urban Development in Asia
 
About SJ
Company Name  : Surbana Jurong Private Limited
Head Office         : 168 Jalan Bukit Merah, #01-01 Connection One, Singapore 150168
Representative   : Wong Heang Fine, Group CEO
Shareholders      : Temasek Holdings (100%)
Business             : The Surbana Jurong Group is one of the largest Asia-based urban, industrial and infrastructure consulting firms operating in 40 countries and 110 cities globally. The company has strong ties with the shareholding company Temasek Holdings, and maintains a wide range of networks including government officials, local companies and international institutions.
 
About MC
Company Name  : Mitsubishi Corporation
Head Office         : 3-1, Marunouchi 2 Chome, Chiyoda-ku, Tokyo, 100-8086 Japan
Representative   : Takehiko Kakiuchi, President and CEO
Business             : Mitsubishi Corporation is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation’s current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.

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