Nuvasa Bay, Batam, Sinarmas Land

SINGAPORE (Dec 15): Sinarmas Land has revealed its plans for Nuvasa Bay development project on the beachfront of Nongsa on Batam island.

Batam’s first luxury integrated residential and mixed-use development will integrate an exclusive residential area with a full suite of resort facilities surrounded by an 18-hole international golf course along the 1.2km-long beachfront.

Sinarmas Land plans to invest a minimum of four trillion rupiah (US$400 million) over the next five years to develop the 228-ha project and to market the project in the third or fourth quarter of 2016.

Sinarmas Land closed 4.2% lower at 46 cents on Monday. -- theedgemarkets.com

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