Perennial Real Estate Holdings to Develop 1,700-unit Indonesian Site for $153.4 Million
- MAN Real Estate
- Jun 1, 2018
- 1 min read
Updated: Jul 10, 2019
Published Jun 1, 2018
It bought a 60% stake in the site for $21m.
Perennial Real Estate Holdings (Perennial) will develop a 246,982-sqm land parcel in Sentul City, Bogor Regency, Indonesia for $153.4m.
Its subsidiary Perennial SL (PSLPL), bought Sanctuary City (SCPL) for $21m. SCPL owns 60% of PT Bhakti Bangun Harmoni, which wholly-owns the site.
Perennial took a 60% stake in the site after the acquisition. It will jointly develop the site with an Indonesian company, PT Cipta Harmoni Lestari (CHL).
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