#Indonesia #Sumitomo Forestry #Bogor #Sinarmas Land #Kota Wisata

Sumitomo Forestry’s Ambitious Township Development

Sumitomo Forestry Co., Ltd., led by President Toshirō Mitsuyoshi, has embarked on an extensive township development project in collaboration with Indonesia's leading real estate company, Sinarmas Land. This initiative, targeting the construction of approximately 4,100 residential units, commercial spaces, and various amenities, is set to take place on a vast 156.5 hectares of land adjacent to the well-established Kota Wisata project near Jakarta. The completion goal is set for 2041, highlighting a strong commitment to enhancing urban livability in the region.

The project will be managed by a joint venture named Kurnia Sinergi Mas, established between Sumitomo Forestry Indonesia and a subsidiary of Sinarmas Land, Kurniasubur Permai. With a total expected investment of about 137 billion yen, this ambitious development aims to initiate sales by the end of this year, laying the foundation for a flourishing community that integrates residential, commercial, and educational facilities.

The Kota Wisata Project's Significance

Indonesia continues to experience economic growth and a rising population, which in turn boosts housing demand, particularly among the middle class. The suburban areas surrounding Jakarta are becoming increasingly attractive due to enhanced transportation infrastructure, including new highways and an expanded Light Rail Transit (LRT) system.

Kota Wisata, located 25 km southeast of Jakarta in North Bogor, has been developed by Sinarmas Land since 1996 and has established itself as a benchmark for large-scale urban development, with a current area of around 480 hectares and cumulative sales reaching nearly 11,800 units. The township’s accessibility is excellent, with major roads connecting directly to Jakarta, making it a prime choice for commuters. Existing commercial areas cater to residents with shopping malls, schools, restaurants, and clinics, creating a vibrant living environment. Significantly, a new hotel is expected to open by the end of August, further enhancing the region's allure and branding.

Strategic Importance of the Project

This project marks the largest initiative that Sumitomo Forestry has undertaken in Indonesia thus far, serving as a vital stepping stone for expanding their development footprint in the region. Since entering the Indonesian housing market in 2017, Sumitomo Forestry has managed five projects with a projected total of about 2,100 residential units, predominantly focusing on individual homes until now.

Through collaboration with Sinarmas Land, known for its extensive experience in township development, Sumitomo Forestry aims to participate in a significant urban project for the first time in the country. The strategic focus will be on enhancing infrastructure, landscape development, and inviting schools and commercial facilities to create a comprehensive community that meets residents' needs.

As part of this project, Sumitomo Forestry plans to utilize sustainable practices, including constructing some facilities using wooden materials. This aligns with the company’s broader environmental goals, pursuing EDGE (Excellence in Design for Greater Efficiencies) certification, which mandates a significant reduction in CO2 emissions and resource usage compared to conventional building methods.

This initiative indicates a proactive approach towards enriching the quality of life in Indonesia and aims at providing a mix of residential and commercial spaces that enhance community development.

Furthermore, in addition to their ongoing projects in Indonesia, Sumitomo Forestry is also expanding its reach throughout Asia. Starting in March 2024, they will launch another large-scale township development project in Ho Chi Minh City, Vietnam, covering approximately 41 hectares with an anticipated total of around 6,700 units. This positions Sumitomo Forestry as a significant player in the integrated urban development sector across multiple Asian regions.

In summary, Sumitomo Forestry is not only committing to robust development projects in Indonesia but is also ensuring these initiatives are environmentally sustainable and community-oriented, embodying their long-term vision of "Mission TREEING 2030.”