SouthCity Invests Rp. 1 Trillion to Launch the First Coliving Apartment Project in Indonesia


Wartajakarta.com - PT.Setiawan Dwi Tunggal (SouthCity), the developer behind the 55-hectare SouthCity superblock, has launched the first coliving apartment project in Indonesia, The Parc, with an investment of Rp. 1 trillion.

The Parc is the first coliving project in Indonesia located in Cinere, Southern Jakarta with 1,701 units spread over 1.5 hectares of land, of which more than 70% is dedicated for shared facilities, recreational spaces and green areas. The Parc is fully integrated within the larger 55-hectare SouthCity superblock. "We have carefully designed The Parc to be the manifestation of a modern communal living experience. We provide opportunities for residents to share and collaborate in a large community, but still prioritizing privacy, function and comfort," said Peony Tang, CEO & Director of SouthCity (27/4/2019).

SouthCity has also partnered with GoWork, the leading premium coworking space provider in Indonesia, to curate community events at The Parc, manage the common facilities at The Parc which include a coworking space,and facilitate sharing and collaboration amongst residents of The Parc. GoWork has over 35,000 sqm of workspaces spread over 17 locations nationwide and manages a community of 9,000 members through its mobile app platform.

"One of GoWork"s key strengths is its collaborative spirit. Our strategic partnership with SouthCity is the first of its kind in Indonesia. This partnership is paving the way for us to fully champion the work, live and play philosophy,"said Vanessa Li, CEO of GoWork.

"To me, The Parc is not just a home, but a place to inspire your best, a place to build meaningful relationships and a place to connect with others in the community. It is shared living designed to support a better life for our generation, "said Peony Tang, Director of SouthCity.

The goal of the partnership is to ensure that residents of The Parc fully enjoy all the benefits of coliving, which extends beyond sharing physical spaces and common facilities. It is the personification of collaboration and community a way for residents share interests, resources, and dreams with other passionate people to support a purpose-driven life.

"We believe that coliving will disrupt the real estate sector in much the same way that the sharing economy has changed the world. For the real estate sector, this means creating products that seamlessly integrate live, work, and play," said Peony Tang.

Championed by companies like Uber and Airbnb, the sharing economy is giving consumers more power to get goods and services faster, easier and cheaper. Another company disrupting the real estate sector by capitalizing on collaborative consumption and the sharing economy is crowdfunding start-up, PropertiAnda. This online platform enables people to invest in a pool of residential properties from as low as Rp. 500,000, earn rental income on the properties, and sell the investment at any time.

"History tells us that property is a consistent, stable and rewarding way to invest your money over the long-term. PropertiAnda combines technology and expertise to eliminate traditional barriers to property investment: high capital requirements, property management expertise, and lack of liquidity," said William Suwandi, Co-founder of Properti Anda.

Currently, The Parc has sold around 60 percent of the total 392 units in the first tower. "We are targeting sales of up to 80 percent this year and then we will market the second tower," concluded Stevie Jaya, Associate Director of SouthCity.

As affordability is one of the key challenges for millennials seeking home ownership, The Parc has structured light payment schemes specially for budget-conscious millennials, enabling them to purchase units starting from Rp. 99.000 per day. SouthCity is optimistic that the The Parc will rejuvenate the property sector in Southern Jakarta for both investors and end-users like millennials.

The Parc Apartment consists of three 13-storey towers planned for 1,701 units: namely Studio (22.55 m2), 1 Bedroom (30.06-36.66 m2) and 2 Bedroom (45.10 m2). At present, The Parc is priced at promotional and affordable prices ranging from Rp. 357 million to Rp. 707 million per unit. Construction for Tower 1 is scheduled to commence at the end of this year.

Penulis: Redaksi
Editor: Redaksi

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