St Morritz
Michael Riady is the Mochtar Riady grandson who owned Lippobank at the first place. But now his family bussiness has been expanse very quick especially in property bussiness. According to information, now he own about 1% of shares from his own build bank, Lippo Bank. He owned at least 2 big properties that turn out to be a fastest growing city such as Lippo Karawaci and Lippo Cikarang. His Grandson now as one of the Lippo Group director was entrusted to lead the mega project which worth more than Rp. 11 trillion in developing residential and penthouse building at west Jakarta which exactly behind of Puri Indah. He shared many of his vision and mission in this megaproject. I summarize few important and attractive notes. He told that Lippo Group chose the location because the west Jakarta is actually plan for residential and commercial site. And thus the place is strategic because its rather close to the airport which now become a basic neccessity of Jakarta citizens. And most of all, there is a plan to build the longest suspension bridge in the world which will connecting Sumatra and Java in the future. If this plan come to reality, accrding to him, it will flow massive of goods and services which Sumatra has tremendous resoruces and Jakarta own the market. West Jakarta will be the first and direct impact from this both postive combination.
But why people want to buy such an expensive place nor living or investing?
He said that for middle-up class people and also big home owners, most of them don’t look for bargains in apartment. They want the best, not as THE BEST BUY. He also said that the superblock era has vanished and it’s now the time of global cities. Lippo was aiming to make the property to compete with London, New York, Milan, Tokyo and Singapore. He added that the house and residential will always be in demand even in crisis situation. As a comparement, in Indonesia investment yield rather lot higher about 12% rather than Singapore only 2%.