Oxley Convention City is a 50:50 joint-venture project between Oxley and the land owner, PT Karya Indo Batam which consists of three 32-storey residential towers with a total of 1,635 units, a 20-storey hotel with 520 rooms, a 29-storey office tower with 320 strata office units for sale and a convention centre. The two residential and hotel towers sit above a three-storey strata commercial podium with about 100 units to be completed in 2019
Oxley Convention City is located on a 280,000 sq ft plot in the city centre and is a 10-minute drive from the ferry terminal.
Oxley Launches Phase 1
In the first phase of its launch in Batam, Oxley is said to have sold more than 300 of the 624 residential units and 35 of 66 strata commercial units — located in the commercial podium — released for sale in Batam.
Of the 66 strata commercial units released for sale, there are 14 prime triplexes measuring 1,507 to 3,509 sq ft located on the ground floor, fronting the busy main trunk road of Jalan Raja Haji Fisabilillah. As such, they are sought after among local buyers.
Prices of the commercial units range from $158,000 for a 132 sq ft simplex to $805,000 for a 3,509 sq ft triplex according to TheEdgeproperty
The residential units range from 275 sq ft studios to 1,418 sq ft, four-bedroom duplex penthouses priced from $43,000 to $248,000.
Most land parcels in Batam have a 35-year lease, with the option to renew for 30 years. Likewise, the owners of the strata commercial and residential units are also purchasing their property with a 35-year lease with the option to renew for 30 years.
Oxley Convention Centre is a 50:50 joint-venture project between Oxley and the land owner, PT Karya Indo Batam.
When completed, the project might be managed by Metro Global Solutions, a JV company between Oxley and Australian-based facilities management company Metro Global. Incidentally, Metro Global Solutions is also the appointed property manager for Oxley’s JV projects in Phnom Penh — The Bridge and The Peak, which are also mixed-use schemes.
Oxley Convention City Launching Soon in Singapore
More information can be found here at http://www.propertyfactsheet.com/properties/oxley-convention-city-in-indonesia-batam/
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