Posted in Singapore forum
While Singapore is continuously growing and expanding in their construction industry as it is tagged as the world’s most expensive city, its neighbor archipelago, Indonesia is also competing with their infrastructure.
Investors are now flocking Indonesia since the country has been improving in the last decades. A lot of potential has been realized in its 17,000 archipelago. Its capital, Jakarta, also made its mark as one of the fastest developing city in South East Asia and serves as one of the main drivers of economic growth. Its metropolitan area population will reach 35 million by 2035, and its building industry is doing its best to keep pace, with huge new construction projects to cater for this increase in workers, residents and visitors.
Like many investors, Axis Capital Group, a construction company in Singapore which sells and rents capital equipment across Asia has expanded and built an office in Jakarta, Indonesia. In preparations of the upcoming abundant years in the industry, here is the list of projects under construction or will be soon:
Pertamina Energy Tower
With the trend in green construction nowadays, Jakarta has been in. Pertamina Tower is no different nor a fraud. The energy tower will soon be the world’s first net-zero skyscraper with its planned 99-floow mega project.
Another tower with green building at its heart, the 63-floor Cemindo luxury office tower will be the new home of the Indonesian state cement producer when it opens next year. At its current stage of construction it is Indonesia’s tallest building, although it will be eclipsed when some of the other major projects in the city appear on Jakarta’s horizon.
Jakarta Sea Walls
A government project, Jakarta sea walls are created as call-to-action when flood in 2007 has brought a great warning to the public to strengthen its defense. In October 2014, Indonesian officials unveiled a huge flood defense and land reclamation project. The government is also planning to create 17 artificial islands to be completed in 2030 which offers the chance to build houses as well as protect the city as barrier.
The Indonesian company Ciputra Group announced this December that it will spend $164m on building two commercial towers in Central Jakarta. The company has said that it chose the Central Jakarta site to offer its tenants an alternative to the Golden Triangle business district, and the decision looks to be wise – 80% of the space in the towers has already been sold. The towers should be finished in the next four years, according to the Jakarta Globe.