Intiland Begins Building 1Park Avenue Apartments

1 Park Avenue

Property development company PT Intiland Development Tbk began construction of the 1Park Avenue apartment project located in the Kebayoran area, South Jakarta. The commencement of the construction phase of the new apartment was marked by ceremonial ground breaking by the company’s management.

Intiland Vice President Director and Chief Operating Officer Suhendro Prabowo explained that the 1Park Avenue apartment will be the company’s latest apartment development project after successfully marketing the 1Park Residences apartment. Occupying an area of ​​2.7 hectares in the Kebayoran area of ​​South Jakarta, the construction of 1Park Avenue is divided into two stages. The first phase includes four apartment towers and the second phase for subsequent developments.

“We see the apartment market is still very potential, especially for urban communities who need residential priority and a very strategic location. After successfully marketing the 1Park Residences apartment, we also received very good reception when marketing the 1Park Avenue apartment,” Suhendro said in a statement the press.

Located next to 1Park Residences apartment, this apartment carries the concept of beautiful vertical housing inspired by the feel of the resort and water. Each apartment unit is equipped with water features which are expected to create a comfortable and calm atmosphere. Part of the area of ​​the apartment environment is also surrounded by a swimming pool with a touch of the lagoon which will become a kind of ‘oasis’ in the middle of the capital city density.

Occupying an area of ​​2.7 hectares in the Kebayoran area, South Jakarta, 1Park Avenue is an apartment as high as 29 floors and has four basement floors. Of the four towers available, the company has only marketed three towers which have 324 apartment units consisting of 5 types ranging from 2 bedrooms to Penthouse units. Having an area per unit starting from 137 square meters to 500 square meters, this apartment is marketed with prices starting at Rp 3.4 billion today.

Suhendro revealed that 1Park Avenue was very well received by the public. Starting introduced in early 2013, a total of 231 units or 71.2 percent had been sold before it was officially launched. This success is caused by a number of factors including, conducive property market conditions, strategic location, and types of products that are in line with market needs.

“We always try to develop products that are innovative and can answer the needs of the community. 1Park Avenue we present as a form of Intiland’s commitment to create innovative and comfortable residential concepts for urban communities,” Suhendro said.

Aside from being suitable as a prestigious residence, according to him, 1Park Avenue is of public interest for investment purposes. Potential benefits that can be enjoyed by buyers apart from price increases, also come from rental income. This potential can be seen from the high average apartment rental prices in Jakarta’s central business district.

For the same size and quality of apartments as the 1Park Avenue apartment, the average 2-bedroom rental reaches 2,800 US dollars and 3 beds reach 3,500 US dollars per month.

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