A $4.6B plan for Jakarta Bay

Agung Podomoro, one of Indonesia’s largest property developers, has joined Intiland Development and Pembangunan Jaya Ancol to develop a recreational park in north Jakarta at a total cost of US$4.57 billion. The project was inspired by Palm Island, an artificial archipelago in Dubai. The park will comprise residential, tourist, commercial and recreation centers once fully completed.

As north Jakarta is already home to a large theme park Ancol Dreamland, owned by Pembangunan Jaya Ancol, construction of the new project will commence in 2014, including a leisure resort island in Jakarta Bay, and the development would spread across up to 1,000 hectares of newly reclaimed land, said Gatot Setyo Waluyo, President Director.