Thanks to Google Translate I now know what the project "Meisterstadt" means in English. It's a German word for "champion city". Hmmm. Check out the official website meisterstadt.co for more info. (If you understand the Bahasa Indonesia, you may want to check also this website www.meisterstadtbatam.com.
Well, the rationale seems sound alright as the project targets Singaporeans as the buyers. Nothing new. Recall the article last year about "Villas being built near Batam in lagoon with dolphins, developer eyes Singapore buyers" in which it says that "an Indonesian developer says Singapore buyers are showing keen interest in a project promising villas built over the sea, with dolphins at the residents' doorsteps. Batam-based developer PT Batam Island Marina and its Singapore investment partner Seven Seas FID are planning 64 villas, each shaped like a round bamboo hut and built around a lagoon with dolphins which residents can feed and play with."
Sorry if I digress, but try to google for "Seven Seas FID" and you'd come across to this page:
As per 31/01/16, it says that "SEVEN SEAS FID PTE. LTD. with Registration No.: 201418758Z was incorporated on 27 June 2014 (Friday) and as of 27 June 2014 (Friday) is a Live Limited Private Company. This Limited Private Company have been operating for 583 days."
OK. I don't know about you, but this rather short track record does not seem an assurance enough for me to look further about the property. Heh. With the same logic, I'd choose to scrutinize further about the developer of the Champion City Project (Meisterstadt) at Batam.
- Asiaone, "Indonesia's ex-President Habibie to build billion-dollar apartment project in Batam".