Property developer Pollux Habibie International (PHI) has begun construction of a $1 billion apartment superblock in Batam, Indonesia.
The superblock named Meisterstadt, which is German for “master of city”, will comprise of two residential towers with 1,300 apartments.
“Singapore now has 5 million residents and it has continued to grow. We hope that we can benefit the country’s population, particularly in the property sector,” said PHI commissioner Ilham Akbar Habibie, the former president’s son.
The project is scheduled for completion within the next three years.
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