Tuesday, February 5, 2008

Kemang Village's first tower almost sold out

The Jakarta Post

The first of three condominium towers to be built at the upmarket Kemang Village in South Jakarta are almost sold out, indicating public enthusiasm for the exclusive property.

"Work has already started on the site: you'll see 17 cranes working 24/7 to help meet the target of completion and handover at the end of 2009 as promised," Gordon G Benton, a senior executive of the Lippo Group, said as quoted by The Village, a recently released magazine produced by Kemang Village management.

The US$880 million Kemang Village project occupies 12 hectares of land in South Jakarta's prime area of Kemang.

Lippo is building three towers -- The Ritz, The Empire and The Cosmopolitan -- in the first phase of the development of the Kemang Village project. The Ritz is aimed at career people who are financially well established, The Empire at high-spirited and dynamic youths and The Cosmopolitan at more mature young executives. The three towers will have 700 apartments.

The project involves several big-name architects such as Thomas Elliott and Bill Bensley. -- JP