COMMERCIAL PROPERTY | Staff Reporter, Singapore

OUE buys Jakarta CBD land plots for $150m

Their total area is about 8,000 sq m.

OUE acquired plots of land in Jakarta from Indonesian firm Asiatower Sudirman for $150m (IDR1.6b), an announcement revealed.

The conditional land sale and purchase agreement (SPA) for the land plots with total area of approximately 8,000 sq m was done through the firm’s subsidiary, PT OUE Pengembangan Properti. Said land plots are located in the central business district (CBD) in South Jakarta.

With a commercial zoning, the plots are exposed to accessibility and are near road networks as well as other infrastructure and facilities.

Under the conditional SPA, OUE needs to pay 10% of the total consideration which is about $15m (IDR162.9m) within 30 business days after the transaction deal. Meanwhile, the remaining amount should be paid within a year.

According to the firm, the consideration for the deal took into account the permitted use of the land and its prime location.

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