Matrix Concepts to jointly develop Jakarta project
KUALA LUMPUR: Negri Sembilan-based Matrix Concepts Holdings Bhd will jointly develop an Islamic financial district in north Jakarta with an Indonesian consortium.
Matrix Concepts signed a jointventure agreement with PT Bangun Kosambi Sukses (BKS) and PT Nikko Sekuritas Indonesia (NSI) to undertake the development in Pantai Indah Kapuk 2 Sedayu Indo City.
The parties formed a joint-venture company called PT Fin Centerindo Satu.
BKS will hold 40 per cent equity in the joint venture while Matrix Concepts and NSI will hold a 30 per cent stake each.
Matrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin said the joint venture not only marked its initial footprint in the up-and-coming Indonesian market but also represented an opportunity for Matrix to work with one of Indonesia’s largest property developers and major conglomerate to establish an Islamic financial district.
“Given that both countries share similarities in language and culture, we believe this joint venture is a major stepping stone for us to gain a significant foothold in this nation.”
With Malaysia being one of the world’s largest Islamic banking and finance markets, Haslah said the company was poised to play a strategic role in the joint venture by leveraging the Malaysian experience in the development of an Islamic financial structure, while attracting financial institutions and syariah-compliant entities to Pantai Indah Kapuk 2.
Haslah said Pantai Indah Kapuk 2 Sedayu Indo City would encompass 4,000ha of integrated development with residential houses, apartments, shopping centres, a light rail transit system and a stadium.
The development came on the heels of the successful Pantai Indah Kapuk 1, he added.
Pantai Indah Kapuk 2 Sedayu Indo City was also strategically located, with accessibility to all parts of Jakarta, added Haslah.
Given that both countries share similarities in language and culture, we believe this joint venture is a major stepping stone for us to gain a significant foothold in this nation. DATUK MOHAMAD HASLAH MOHAMAD AMIN Matrix Concepts Bhd chairman