Lippo To Invest Rp 278 Trillion To Develop New Jakarta City “MEIKARTA”
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May 2017
Jakarta, Indonesia

As a national business group, Lippo today announced the development of a new international city with the visionary name of “MEIKARTA” with a total project value exceeding Rp278 trillion.

This will be Lippo’s largest investment project undertaken in the last 67 years of the Group’s history.

The location of this enormous city is at the heart of Indonesia’s economic activities in the Greater Jakarta-Bandung corridor. 60% of Indonesia’s economic activities are located in the Greater Jakarta-Bandung area. 70% of this economic activity is centered in the Bekasi-Cikarang area with a population that will reach 15 million people within the next 20 years. Consequently, this will be the center of Indonesia’s entire economic activity.

The enormous modern city of Meikarta is located at the center of this corridor and is surrounded by several cities such as Lippo Cikarang, Jababeka, MM2100, etc.

This is also the center of Indonesia’s industrial area where more than one million cars, ten million motorcycles and millions of refrigerators, TVs and other household appliances are produced annually.

Thousands of large national and multi-national companies are based in this corridor employing hundreds of thousands office employees and millions of workers. Companies located here among others are Astra, Honda, Toyota, Suzuki, Mitsubishi, Isuzu, Panasonic, Toshiba, Hankook, Samsung, etc.

In fact, this is also the center where talented and highly skilled and educated human resources work and live in.

Meikarta will emerge as the most modern, beautiful and complete infrastructure city in Southeast Asia. The vision of Meikarta is a city that will be more beautiful than Jakarta.

Meikarta and its surroundings could potentially become the most important city in Indonesia.

Currently, the central government has rapidly started to build some important infrastructure in the region, among others are:
Make the Jakarta-Bekasi-Cikarang-Bandung corridor as ‘Indonesia’s version of Shenzhen’ and the most important economic center in the whole country.
Furnish all basic infrastructure needs to support this development.
Develop Jakarta-Bekasi-Cikarang-Bandung high speed train with Rp65 trillion investment
Develop Patimban Deep Seaport valued at Rp40 trillion.
Develop the new ‘Kertajati International Airport’ valued at Rp23 trillion.
Develop an Automated People Mover (APM) Monorail that will link the seven cities around Meikarta.
Develop the Rp16 trillion Jakarta-Cikampek Elevated Highway.

In the first phase, Meikarta has commenced the construction of 250,000 houses that will directly accommodate more than one million urban residents.

The first phase of Meikarta development covering 22,000,000 sqm has been planned since 2014. The physical work has started since January 2016 with the construction of up to one hundred skyscraper buildings, each ranging from 35 to 46 floors. The total number of workers, which will reach 65,000 people, is a form of jobs creation in itself. The site conditions indicate the dynamism of a development similar to Shenzhen’s early development.

Fifty buildings will be ready for occupation by December 2018.

It is hoped and expected that Meikarta will be part of Jakarta’s solution for traffic, congestion and other social pressure.

Lippo will have a massive residential sales launch on Saturday, May 13th, 2017 at Maxx Box, Orange County, Lippo Cikarang, a 16,000 sqm sales office. It is estimated that the sales will peak at 3,000 to 5,000 units per day.

The current market price around Bekasi-Cikarang corridor is around Rp18-20 million per sqm. There will be a price breakthrough with a discount of up to 50% with a selling price below Rp12.5 million per sqm coupled with 20-25 years mortgage with interest rates starting from 8.25% p.a., and booking fee of only Rp 2 million with down payment of only 10%. Meikarta will certainly be the best residential investment in Southeast Asia due to the massive infrastructure investments and facilities that will be built.

Meikarta will also accommodate a significant portion of 112,000 Lippo Group’s staff / employees.

The infrastructure and facilities that will be constructed are of world-class quality and scale including:
Seven malls and commercial retail spaces with a total area of 1,500,000 sqm.
International Hospital and Health Center.
International Financial Center.
Ten five-star international hotels.
National Library.
Opera Theater & Art Center.
One hundred International and National Plus Elementary Schools.
Fifty International and National Plus Junior High Schools / Senior High Schools.
Three national universities.
Industrial Research Center.
International Exhibition Center.
Indonesia’s Silicon Valley.

Development of five pillars and centers of innovation:
Innovative Infrastructure & Transportation.
High Tech CBD & Research Hub.
Business & Commercial Hub.
Green Sustainable Living.
Center for the Arts, Culture & Education.

Total investment is sourced from Lippo Group itself and its partners. In addition, some portion of the investments will be supported by global partners including groups from Mitsubishi, Toyota, Sanko Soflan who had already invested earlier.

The first phase is planned to be completed within three years and it will be ready for occupation by December 2018. Meikarta is founded on the principles of vision, courage, solid management, speed and solid financials.

The development and construction in this area will be managed by Lippo in cooperation with various national level contractors such as Total Bangun Persada, Wika, PP and others.

Theo Sambuaga, President of Lippo Group stated: “Meikarta is a national development that will focus on improvement of standard of living. We are proud that our team is able to present a new and dynamic concept.”

Dr. James Riady, CEO of Lippo Group exclaimed: “This is our ninth new city development and it will be the most beautiful and complete one.”

Prof. Dr. Ginanjar Kartasasmita commented: “We salute the breakthrough pioneered by Lippo that daringly makes this huge investment.”

Prof. Didik Rachbini said: “In the midst of the global and regional economic downturn and the weak investment climate, Lippo once again present more new ideas, and diligently pursue this domestic development which will create huge employment opportunities.”

President Meikarta, Ketut Budi Widjaja stated: “We are glad to have the support of the local government and the opportunity to build something unique for our nation and society.”

Ir. Alwi Sjaaf, Dipl.Ing, Director of Lippo Design Institute explains the uniqueness of Meikarta’s design: “… We present the unique pattern of New York City’s design with a traffic-efficient grid system and a vast Central Park. The design is eco-friendly and modern with the latest modern infrastructure. ”

Lippo Group is one of Indonesia’s leading national group that in the last 67 years has served devotedly and consistently through its 112,000 staff and employees, serving to more than 60 million customers.

For further information please contact:

Danang Kemayanti
Director Lippo
HP / WA: +62 855 780 1299

Ketut Budi Widjaja
President of Meikarta

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