PanaHome, Sojitz to develop ‘smart town’ in Indonesia

PanaHome, a housing company under the Panasonic group, has teamed up with trading company Sojitz Corp. to build a sustainable “smart town” in the city of Deltamas outside Jakarta.

The two companies’ Indonesian subsidiaries will establish a joint venture, PT PanaHome Deltamas Indonesia, in October to construct residential and commercial complexes as part of the Deltamas smart town plan, a comprehensive urban development project that includes commercial facilities, residential neighborhoods and an industrial park.

The joint venture combine PanaHome’s expertise in building sustainable smart towns with the Sojitz group’s concept of a residential neighborhood proximal to business districts in the area of Deltamas.

“The first phase of this project will involve construction of 520 housing units with costs up to ¥10 billion ($91 million). And we will continue other phases with 1,000 housing units,” said Kazuhiko Tanaka, managing director of PanaHome Asia Pacific Pte. Ltd., who is based in Singapore.

The first phase will start in the beginning of 2018 and finish in 2019, followed by a final phase to be completed around 2026, Tanaka said. “We will start selling units in the middle of 2018.”

“We will not only adopt Japanese quality, such as construction and after-sales service, but also adjust to Indonesia’s situation,” said Tanaka.

“Nowadays, the development of Deltamas city has already reached 70 percent of its total 3,200-hectare area. In the near future, there will be schools and hospitals as well,” said Masahiro Koizumi, vice president of Sojitz’s local property developer, PT Puradelta Lestari Tbk.