The Lippo Group handed the first 863 apartments in its Meikarta megaproject in Cikarang, Bekasi, West Java, over to their new owners on Saturday, signifying the conglomerate’s success in meeting its commitments.
Lippo Cikarang, the group’s property developer arm, said in a statement that the apartment units are in the towers known as Irvine Suites and Westwood Suites – both situated in the Meikarta CBD, which is the premium area inside the 500-hectare property development. The two towers have cost Rp 709 billion ($48 million).
“This handover of apartment units in the Meikarta CBD is real proof of our achievement and success in honoring our commitments to our customers,” Meikarta president Ketut Budi Wijaya said in the statement.
Saturday’s event marks the start of a series of handovers of apartments in the 84-tower first phase of the gigantic project. All units in the six 42-story apartment towers – Irvine, Westwood, Pasadena, Burbank, Glendale Park and Newport Park – have already been sold.
The topping-off ceremonies of the first four towers, marking the placement of the last beam on top of the building, have already taken place, while those of Glendale and Newport are scheduled for December this year.
Lippo plans to hand over the second batch of units in 28 more towers, which are between 32 and 42 stories in height, in February next year.
The Rp 278 trillion project, which will ultimately consist of 200 skyscrapers hosting offices, apartments, shopping malls, educational institutions and health care facilities, is expected to redefine urban living in Indonesia.
The developer plans to build 225,000 apartments in total and designate 1.5 million square meters as commercial space.
Situated 34 kilometers east of the capital, the future city will eventually be home to around a million people who will benefit from several transportation infrastructure projects currently underway.
In addition to an elevated section of the Jakarta-Cikampek Toll Road, scheduled for completion in 2019, there is also a light rail transit system connecting Cawang, East Jakarta, with East Bekasi. This project has already reached 47 percent completion. Another is the Jakarta-Bandung High-Speed Railway, which is expected to be operational by March 2021.