Oxley officially launches Convention City in Batam

SINGAPORE (Dec 14): Property developer Oxley Holdings has officially launched the first phase of its 20,000 sq m Oxley Convention City in Batam, Indonesia.

In a statement on Tuesday, Oxley says the iconic mixed-use development located in Batam’s financial district will be the island’s first convention centre and office tower.

Phase 1 of Oxley Convention City, consisting 624 residential apartments as well as 66 retail and food & beverage (F&B) units, was officially opened on Dec 10.

The entire development comprises an office tower with 320 office units, a hotel of 520 rooms, three residential towers consisting of 1635 apartments, and some 130 retail and F&B units.

Following Indonesia government’s initiatives to attract investment and develop the Batam Free-Trade Zone, Batam’s economic growth will gain further traction,” says Oxley’s Executive Chairman and CEO Ching Chiat Kwong.

“We believe Oxley Convention City will cater to the growing demand for business meeting and convention venues, and for recreational and residential properties from Singapore, the region and the rest of the world,” Ching adds.

Shares of Oxley closed half a cent higher at 44.5 cents on Tuesday. — theedgemarkets.com.sg