December 15, 2016

Intiland Starts Construction of The Rosebay

Surabaya (15/12) – The national property developer PT Intiland Development Tbk (Intiland) launched the construction of The Rosebay. 

The Rosebay is a modern low-rise residential development project located in Graha Famili residential area, Surabaya.

The start of the development was marked with the groundbreaking ceremony attended by the management on Thursday, December 15, 2016.

Intiland’s vice president and chief operating officer Sinarto Dharmawan said the development of The Rosebay would be divided into several phases. For the first phase of the development, the company is developing five towers with the construction period estimated to last for two years.

“Our estimation is the development of the structures and exterior will be completed in late 2018, followed by the unit handover to the owners,” said Sinarto after the groundbreaking ceremony.

The Rosebay is Intiland’s latest residential project in Surabaya. The Rosebay will have seven residential blocks with different levels from four to eight floors. The difference in levels produces beautiful landscape which mixes seamlessly with the environment.

According to Sinarto, West Surabaya region is a good alternative for the new business hub, which is growing rapidly. Aside from being a much-favored residential area by the public, West Surabaya has also grown to become a new center of business and commerce. The area’s development prospect has continued to improve along with the construction of west outer ring road.

Such a rapid growth has created a demand for modern and innovative residential facilities. And the launch of The Rosebay proves this as evidenced with good reception received from the public.

The Rosebay boasts 229 residential units coming in two types: a two- and three-bedroom unit with areas between 75 square meters and 143 square meters. The mean selling price is around Rp31.2 million per square meter or starts from Rp2.3 billion per unit.

Sinarto said the wide area offered for each unit promises added comfort to the residents. The building’s concept and design put to the fore privacy as each floor has only five to seven units. Aside from privacy, The Rosebay low level of density is another luxury many modern people crave for.

“Since we launched the project in the first quarter of this year,  we’ve marketed around 50 percent of the total units we are developing,” he added.

In addition to its strategic location, this prestigious residential complex comes complete with diverse facilities, such as swimming pool, gymnasium, barbeque area, themed parks, children playground, and concierge service. Occupying an area of one hectare at a strategically located Graha Famili residential complex in West Surabaya, the project is set amidst various important facilities, including a golf course, office hub, restaurants and cafés, shopping center, school, and hospital.

Sinarto admitted that throughout 2016, the property market in Surabaya has been fighting an uphill battle. The management of Intiland, however, is optimistic that the property market in Surabaya will bounce back, especially the demand for quality products.

Looking ahead, the company is focusing on the development of mixed-use & high-rise segment for its latest batch of projects. Vertical and mixed-use development is the answer to the limited and rising price of land. It also conforms to the need for efficiency as demanded by the urbanites.***