Century Properties Group, Inc. and Indonesian firm Bakrie Global Ventura have signed a joint venture agreement aimed at strengthening the tourism and media technology sectors of both the Philippines and Indonesia.
Century Properties Group, Inc. Chairman and CEO Jose E.B. Antonio, Revolution Precrafted Properties Founder and CEO Robbie Antonio, Bakrie Global Ventura CEO Anindya Novyan Bakrie, and Bakrie Global Ventura Director and Viva Media Baru President and CEO Anindra Ardiansyah Bakrie recently signed a Memorandum of Understanding (MOU) at the sidelines of the 2017 ASEAN Summit.
The agreement sets the stage for a mutual sharing of resources, from allocating capital investments to the exchange of expertise and skills to establish a Media City, a Sports City, and a Technology Corridor in the Philippines.
“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 Century Properties Group Chairman and CEO Jose E.B. Antonio.
Media City is envisioned as a mixed-use development that will host a state-of-the-art multi-media content development center that will be distributed primarily in Indonesia and the Philippines, the rest of ASEAN and the world. It is also planned to have residential, retail and other commercial components.
Sports City is planned to offer multiple sports complexes in the country for use by the general public.
The Technology Corridor is envisioned as the Philippines’ own version of California’s Silicon Valley. It is planned to enhance bilateral technology transfers between the two countries, as well as serve as a hub for the country’s tech-centric brain pool.
A third company, Revolution Precrafted Properties Limited forged the cooperation between Century and Bakrie Global to conceptualize and support the Media City, Sports City as well as the Tech Corridor.
Revolution Precrafted Properties, a real estate technology startup founded by CEO Robbie Antonio delivers high-design structures such as modular homes, prefabricated stations and buildings, as well as pop-up retail and fitness centers designed by 53 of the world’s best designers, brands and Pritzker prize architects,
As part of the agreement, Century will seek to provide the land for the aforementioned three themed masterplanned concepts.
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 3000 hectares of land, owned and developed by the Bakrie Group, totaling US$1.1billion for the residential and villa component alone.
The partnership allows Revolution to diversify into producing highly functional and customizable spaces. As part of the signed agreement, Revolution will look to supply five mega studios and five hectares of office spaces and storage facilities to Bakrie Global’s Mediapolis studio project in Jakarta, which will represent Indonesia’s strong commitment in Creative Industries and advanced broadcasting technologies.
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.