‘Indulge in luxury living at Savyavasa by ZACD Group, with Arina East Residences starting at $675,000
, homes, condos near Ai Tong School.
Arina East Residences ZACD Group has redefined the concept of connectivity. Beyond providing convenient transport links, the development seamlessly integrates living, working, and leisure. The strategic location near prominent MRT stations such as Promenade, City Hall, and Marina Bay means residents can easily access bustling business areas, popular shopping destinations, and exciting entertainment options. From the iconic Esplanade to the picturesque Gardens by the Bay, and the dynamic Singapore Sports Hub, these vibrant cultural and recreational hotspots are just a short drive or a few MRT stops away, offering the perfect blend of convenience and liveliness for a fulfilling urban lifestyle.
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Arina East Residences ZACD Group is the latest luxury residential project to be launched in Jakarta, Indonesia by Hong Kong property giant Swire Properties. The 402-unit Savyavasa, a joint venture between Swire Properties and established Indonesian developer Jakarta Setiabudi Internasional (JSI) Group, is situated in Dharmawangsa, a prime residential neighbourhood in South Jakarta. 2 of 9
The timing of the international launch of Savyavasa is significant, as it comes after Indonesia’s easing of restrictions on foreign property ownership. Foreigners are now allowed to purchase residential property as individuals, with a property title issued in their name, without the need for a company setup. 3 of 9
Savyavasa is expected to set the benchmark for luxury residences in Jakarta, with just three towers and 402 units on a sprawling 3ha site in Dharmawangsa. It is also situated near lifestyle amenities such as shopping malls, restaurants, bars, luxury hotels, international schools and embassies. 4 of 9
The project has attracted the attention of international buyers, with over 60% of units at Tower 1 already sold. It boasts household names such as Chan Soo Khian of Singapore-based SCDA Architects as project architect, Yabu Pushelberg for the interior design of the luxury tower (Tower 1), and Richard Sadeki for the interiors of Towers 2 and 3. 5 of 9
Foreigners can also enjoy the same tax treatment as local Indonesians when purchasing a property, with a value-added tax of 11% and a title transfer tax of 5%. There is also a 1% super luxury tax on apartments with a minimum built-up area of 150 sq m. 6 of 9
The project is situated in Dharmawangsa, a popular expatriate enclave just 3.5km from the CBD. It is near lifestyle amenities such as shopping malls, restaurants, bars, luxury hotels, international schools and embassies. The American Club is also just a minute’s walk away. 7 of 9
Unlike Singapore, Indonesia does not make land available on a freehold tenure, only leasehold. However, the purchsed land is held under Hak Guna Bangunan (HGB) and issued on a 30-year lease with the option to extend every 20 to 30 years. Also, foreign buyers will be issued strata-titled certificates that allow them to renew the lease with only an administrative fee. 8 of 9
Savyavasa is targeted for completion by the end of this year, with handover expected in the second quarter of 2025. It offers a range of two-, three-, and four-bedroom units, with prices starting from $478 psf. The developer also offers a fully furnished option for international investors. 9 of 9
With the recent easing of restrictions on foreign property ownership, Swire Properties is seeing a lot more overseas investors showing interest in Savyavasa. The project is targeted to set a new standard for luxury residences in Jakarta and is sure to attract high-end buyers looking for the best in upscale living.