Summarecon and Sumitomo Foresty Established Joint Venture

PT Summarecon Agung, Tbk (SMRA IJ) together with Sumitomo Foresty established joint venture to build housing. Sumitomo Foresty has the advantage of technology, and business provider of lumber and building materials for companies. The total investment reached USD30mn, with Summarecon portion was USD15mn. Meanwhile, the share of Summarecon in joint venture reached 51%. For the record, the project will be built 160 housing units on an area of 4.4 Ha in Summarecon Bekasi.

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