Artist’s impression of Samator Business Park in East Surabaya.
Indonesian property developer PT Samator Land is set to showcase its latest project, Skysuites SOHO in East Surabaya, to Singaporean investors at a property seminar on Saturday (27 August) at the Mandarin Orchard Hotel.
Skysuites SOHO comprises 168 dual access strata duplex suites, with unit sizes starting from 110 sq m and priced from approximately $300,000.
Each unit in the freehold project can be accessed by a different door for each floor; the lower floor is connected directly to the office lobby, while the apartments on the upper floor are directly accessible via the lift from the residential lobby.
“Skysuites SOHO is the only project with a dual access concept built in East Surabaya’s only Grade-A commercial building complex,” said Imelda Harsono, Director of Samator Group.
Dubbed Samator Business Park, the complex consists of three connected towers – the 18-storey Samator Office, Skysuites SOHO and the 4-star Novotel Hotel.
The two ha Samator Business Park is located 20km from several transportation hubs such as the Tanjung Perak Seaport, Juanda International Airport and Suramadu Bridge. It is also near the SIER industrial estate and hospitals.
Harsono revealed that Surabaya is one of the top five cities in Asia with great potential for a burgeoning property market. The office occupancy rate stood at 86.9 percent in 2015, signalling a huge opportunity for growth in the commercial office market.
“We hope to reach out to investors looking for commercial properties built in a desirable location, offering good opportunity for rental yield of eight to 10 percent, plus capital appreciation,” she said.
Skysuites SOHO is currently under construction and owners can expect to move in by September next year.
Investors interested in the project can pay 13 months of instalments at zero percent interest: 50 percent over 12 months, with the balance paid in the 13th month, upon collection of keys.
To purchase the SOHO suites, foreign buyers can establish a PT PMA (foreign investment LLC) company to get the same rights as a PT PMDN (domestic investment LLC) and Indonesian citizens.
“We strongly recommend that non-Indonesian investors consider setting up a PT PMA for the purpose of purchasing Skysuites SOHO as a freehold property. Further assistance and information can be provided upon request on the process of setting up a PT PMA,” said Harsono.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
