Signing Ceremony Joint Venture Lippo Group dan Mitsubishi Corp.

Jakarta, October 28 2015 — Lippo Group today announced the signing of a Joint Venture Agreement between Lippo Cikarang and Mitsubishi Corporation, Japan, to develop two Luxury Residential Towers located in Orange County, Lippo Cikarang with a total investment of US$ 100million.

This joint venture agreement between Lippo and Mitsubishi, will be the first of several proposed collaborations covering residential, commercial, retail hospitals, and hotel developments as well as joint asset management programs including in the areas of finance between the two groups.

The joint venture company, will be owned 51 % by a subsidiary of Lippo Cikarang and 49% by PT Diamond Realty Investment Indonesia, a subsidiary of Mitsubishi Corporation. The first phase of the cooperation is the development of two luxury condominiums in Orange County’s masterpiece integrated development, which is being developed by Lippo Cikarang. The first tower to be developed will be called Glendale Park and will consists of 556 units in four types of sizes which will cater to the increasing needs for quality and affordable residences located in East Jakarta.

“We are very pleased to be partnering with Mitsubishi in developing two residential towers in Orange County, Lippo Cikarang. This bodes well for the Orange County developement as this project will not only attract the attention of Japanese property clients/players but also other foreigners and Indonesian buyers into the Lippo Cikarang developement.

Lippo Group and Mitsubishi Corporation are two leading business groups with reputation and track record that have been recognized globally in the property industry. The ability to put together the resources of the two groups to develop quality and and relevant projects will contribute significantly to the development of property industry and related businesses in Indonesia,” said Lippo Cikarang CEO, Mr. Meow Chong Loh.

Glendale Park will have unique features, such as a Zen Balcony, Tatami Rooms, high level security systems with retinal scan access, which provide comfort and safety for the occupants.

Glendale Park will be the fifth condominium launched in Orange County, after Irvine Suites, Westwood Suites, Pasadena Suites and Burbank Suites.


The 322 hectares Orange County masterpiece integrated development area is being developed to drastically change the current ‘face’ of Lippo Cikarang, to be on par with the best global standards cities in the world.

Orange County implements the concept of “The New California City” and will provide complete super facilities, known as 32-in-1. This project is a 16,500,000 sqm mega development construction project with the Lippo Cikarang CBD area covering 82.3 hectares located inside the developement.

The completed facilities, in Orange County Cikarang will consist of the Sky Park, Lippo Mall (390,000 sqm), Luxurious Residential, Shopping Street, Lippo 61 Plaza, Lippo 5* Hotel (200 rooms), Serviced Apartments, Lippo Tower Office Building, Sky Lounge, Roof Top Bar, Zu Private Membership Club, Convention Center (7,000 persons capacity), Dali Hotel (400 rooms), Fine Dining, Cinema Cinemaxx (10 studios), X-Zone, Wellness Center, Grand Chapel (3,000 sqm), SOHO, Japanese Cultural Center, Korean Cultural Center, Senior Homes, Condotel, Green Belt Outdoor Recreation Area, Home Furnishing Center, Helicopter Service, Dormitory, SPH International, YPPH School, University of Pelita Harapan, Japan College, and Health City.

PT Lippo Cikarang Tbk is a subsidiary of PT Lippo Karawaci Tbk, Indonesia’s largest listed property company by total assets and revenues, anchored by a large land bank and solid recurring income base. Lippo Karawaci businesses comprise Residential/Townships, Retail Malls, Hospitals, Hotels and Asset Management.

For further information please contact:
Mr. Stanley Ang


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