Sinarmas Land unveils $400m luxury mixed-use residential project in Batam

It's targeting HNWIs around the region.

Singapore-listed Indonesian property developer Sinarmas Land will inject $401 million (INR 4 trillion) into developing a 228-hectare mixed use residential project in the island of Batam, which is part of the Riau Archipelago.

The project, named Nuvasa Bay, is Sinarmas Land's first project which integrates an exclusive residential area with resort facilities.

The project is expected to be completed in five years, and sales will begin in the latter half of 2016.

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