GIC Real Estate - Project Crown
Informing investment decisions in central Jakarta's business district
An affiliate company of GIC Real Estate Private Limited (GIC) is purchasing a 47 Level A Grade Office Tower in Jakarta’s central business district.
Completion date: Ongoing
The building is being developed by a local Indonesian developer to provide 108,555m² of office space to an international Grade A standard. The building is also being designed and constructed to achieve Green Mark GoldPlus certification by the Building and Construction Authority of Singapore. When completed, the property will include a luxury hotel as well as extensive retail space.
GIC requires an independent team to undertake a technical due diligence of the proposed design prior to finalising the purchase agreement. This independent review is focused on the office building being purchased by GIC and the associated shared areas/services, excluding the hotel and retail areas.
Upon finalising the acquisition, GIC then require ongoing construction monitoring services and audit upon completion of the works and before accepting handover from the developer.
Making the difference
We are providing a comprehensive service including the design review, construction monitoring and completion audit stages.
Through our independent review we were able to identify items with the proposed development that did not meet GIC’s requirements. This enabled GIC to make informed decisions when negotiating with the developer. Our breadth of experience in Jakarta meant we could advise the client on practices in the local market.