South Korea's Samsung C&T Corp. announced on Friday that it has signed a memorandum of understanding (MOU) with Indonesia's premier real estate developer Sinar Mas Land to embark on the development of smart cities in the Southeast Asian nation.
With an extensive portfolio in Indonesia, Sinar Mas Land has been at the forefront of urban development and residential and commercial complex projects. Presently, this company is advancing its ambitious BSD (Bumi Serpong Damai) City project, which spans a staggering 60 million square meters in Jakarta's southwest region.
Per the MOU's terms, Samsung C&T will channel its advanced smart city technologies, encompassing its smart home platform, modular systems, and a thrust towards renewable energy solutions, into the BSD City initiative.
Further broadening the scope of their collaboration, the two conglomerates have mutually consented to jointly develop a pioneering smart city in Kalimantan Island's Nusantara. This region is earmarked for the proposed relocation of Indonesia's capital.
Write to Jin-Woo Park at jwp@hankyung.com
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