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Property

Mitsubishi adds transit complex to Indonesia smart city project

Residential and commercial districts planned for rail station near Jakarta

The project aims to improve access to public transport by developing areas around the rail station and bus terminals.

TOKYO -- Japanese trading house Mitsubishi Corp. will add an urban development project to its smart city program near Jakarta, envisioning residential and commercial districts built on six hectares around a railway station for 200 million Singapore dollars ($149 million).

The deal, announced Monday by a joint venture between Mitsubishi and a unit of Singaporean state-backed investor Temasek, would enhance the smart city program on 100 hectares in the same area.

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