Century Properties Group has entered into a partnership with Indonesian conglomerate Bakrie Group aims to put up Philippines? version of California?s Silicon Valley and a state of the art multi-media content development center.
Under the partnership, Bakrie Global will lend the expertise and resources of its telecommunications, media and technology arm Visi Media Asia, Indonesia?s fastest growing integrated media company, to be involved in the aspects of broadcasting, programming and content creation in Media City for distribution in the Philippines and Indonesia.
Media City will also have residential, retail and other commercial components.
The planned Technology Corridor, which is envisioned to become the Silicon Valley of the Philippines, will serve as a hub for the country?s tech-centric brain pool. It is seen to enhance bilateral technology transfers between the two countries.
Apart from the Media City and Technology Corridor, the Antonio family-led CPG and Bakrie Group have agreed to offer multiple sports complexes in the country for use by the general public.
As part of the agreement, CPG will provide the land for the three themed masterplanned projects.
This partnership between the Philippines? most valued startup and one of Indonesia?s most innovative conglomerates is setting the stage for future collaborations within the ASEAN countries. Their agreement includes supplying designer homes, hotel villas, and amenity spaces to Bakrie Global?s property affiliates in Indonesia namely 3,000 hectares of land, owned and developed by the Bakrie Group, totaling $1.1billion for the residential and villa component alone.
?I am very pleased to have this framework of collaboration with Bakrie Global of Indonesia to develop the Philippines? first-ever Media City, Sports City, and Technological Corridor. This kind of synergy will help build the Philippines? competitive edge as a tourism and hospitality destination with modern media and tech capabilities, as well as open a host of opportunities for business and employment,? said Jose E.B. Antonio, chairman and CEO of CPG.
?I am extremely proud to start this partnership with Century Properties Group and Revolution Precrafted, two very innovative companies from the Philippines that share the same vision with Bakrie Group in promoting industries through the creation of relevant developments that address the demands of the times. We look forward to advancing these goals while contributing to the nation-building of our respective countries,? said Bakrie Global Ventura CEO Anindya Novyan Bakrie.