Limitless enters Indonesia with US$1.7 billion joint venture in Jakarta

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Rasuna Epicentrum takes urban renewal to new levels
Dubai, 25 September 2008: LimitlessLimitless, the global real estate arm of Dubai World, is to develop Rasuna Epicentrum, a US$1.7 billion, 33 hectare mixed-use project in the Indonesian capital, Jakarta.

Rasuna Epicentrum - to be showcased at Cityscape Dubai next month - is the first project for LimitlessLimitless in Indonesia, and the fourth in South East Asia, where the company already has developments underway in Malaysia and Vietnam. In total, LimitlessLimitless now has 11 global projects, worth over US$100 billion, covering more than 20,000 hectares and accommodating three million people.

The announcement follows a joint venture signing between LimitlessLimitless and Jakarta-based Bakrieland Development (BLD). Under the agreement, LimitlessLimitless becomes a 30 per cent shareholder in Bakrie Swasakti Utama, Bumi Daya Makmur and Superwish Perkasa, subsidiaries of BLD.

Located in Jakarta's Golden Triangle - the city's leading and fastest-growing business district - Rasuna Epicentrum will accommodate 40,000 people in more than 1.2 million square metres of office and residential towers. The development - open to foreign investors - will also have retail and entertainment facilities.

LimitlessLimitless

"Rasuna Epicentrum will take urban renewal to new levels. By creating a vibrant community in an existing part of the city, we are containing urban sprawl which in turn means less time in traffic jams and more time to spend with those who matter most. It is another example of how our developments are designed around people to give them a better way of life."

LimitlessLimitless

Rasuna Epicentrum will be completed in phases over the next eight years and, like all LimitlessLimitless developments, will be constructed in line with world environmental standards.

The project will be on show at the LimitlessLimitless stand (ZJ20) at Cityscape Dubai 2008, along with the rest of company's growing portfolio of international and Dubai-based projects. They are: Halong Star (Vietnam); Malaysia International Halal Park and Puteri Harbour (Malaysia); Sanaya Amman (Jordan); Al Wasl (Saudi Arabia); Khimki Region (Russia); Bidadi (India); and Arabian Canal and Downtown Jebel Ali (UAE).

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LimitlessLimitless LLC, a Dubai World company, is an integrated global real estate developer across all market segments, delivering distinctive, sustainable developments. Established in July 2005 and built upon the philosophy of 'delivering distinction', LimitlessLimitless has three specific areas of expertise: master planning large urban communities, waterfront development and the implementation of large scale balanced projects. LimitlessLimitless website: www.limitless.ae

LimitlessLimitless currently has 11 global projects, worth more than US$100 billion, in eight countries, with more to come in Europe, Africa, the Middle East, Asia and the Far East:

LimitlessLimitless projects:

UAE

Arabian Canal: US$11 billion, 75 km man-made waterway and US$50 billion, 14,000 hectare canalside city for more than 2.5 million people.

Downtown Jebel Ali: US$13 billion, 200 hectare mixed-use development consisting of four quarters, each with its own iconic, individually-themed plaza. Downtown Jebel Ali will have nearly 330 buildings, including 237 residential towers.

World Island Resort: US$350 million, ultra luxury island resort with 53 villas and water homes, including 23 privately-owned villas. Resort's focus is health, wellbeing, gastronomy and art.

MALAYSIA

Malaysia International Halal Park, Selangor State: The world's first fully-integrated Halal centre, this 1115 hectare complex will house 200,000 people. There will also be food manufacturing plants, training and research centres, offices, leisure and retail facilities.

Puteri Harbour: US$450 million, 44 hectare development of landed waterfront homes - with individual berthing - and high-end condominiums. A 60-40 joint venture with UEM Land, this will be the country's first luxury waterfront enclave.

VIETNAM

Halong Star: US$220 million, 125 hectare mixed-use development with residential units, hotels, and education, cultural and recreational facilities, overlooking Halong Bay, a UNESCO-sanctioned world heritage site

INDONESIA

Rasuna Epicentrum: US$1.7 billion, 33 hectare mixed-use project in Jakarta's Golden Triangle business district.

SAUDI ARABIA

Al Wasl: US$12 billion, 1,400 hectare mixed-use development near Riyadh, including 55,000 homes plus mosques, educational facilities, offices, malls and hotels.

JORDAN

Sanaya Amman: US$300 million, 200 metre residential twin towers that will be the tallest buildings in Jordan. First 'green' building in the country, with 500 luxury apartments as well as a retail, entertainment and leisure plaza.

RUSSIA

Khimki Region, Moscow, Russia: 113 hectare development near Moscow, with 4,500 homes as well as schools, retail and commercial elements. The project is a 50-50 joint venture with leading Russian developer RDI, and will accommodate around 12,000 people

INDIA

Bidadi, Bangalore, India: US$12 billion, 4,000 hectare mixed-use development, including 1,000 hectares of office/commercial space, near Bangalore. The first of five new towns planned by the Government for the outskirts of the city, Bidadi will house up to 750,000 people.

Media enquiries:
Rebecca Rees
+971 4 375 9733
Rebecca.rees@limitless.ae

© Press Release 2008