Signing of MoU between Summarecon and PT Toyota Housing Indonesia

PT Summarecon Agung Tbk. continues to show its commitment in bringing innovation to the property industry, one of which is partnering with a world-class company to provide quality products. PT Summarecon Agung Tbk. as a Property Developer Indonesia through its business unit, PT Summarecon Property Development in collaboration with PT Toyota Housing Indonesia which is a subsidiary of Toyota Housing Corporation Ltd., will develop 2 residential clusters with the quality standards of Japan in Summarecon Emerald Karawang. The companies are also planning the feasibility of developing a dormitory for Toyota’s employees. This is Summarecon's second collaboration with a Japanese company, after having previously formed a joint venture to develop a residential cluster in Summarecon Bekasi.

This cluster will be developed through a Joint Venture Company between PT Summarecon Property Development and PT Toyota Housing Indonesia with shareholdings of 51% and 49% respectively. The two clusters will comprise about 550 units of houses of single and double storeys on an acreage of 64,500 m2.