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The deal will add to the firm's four residential projects in the country.

Keppel Land through its wholly owned subsidiary Keppel Land (Indonesia) has inked a non-binding collaboration agreement with Indonesian developer PT Metropolitan Land Tbk (Metland) to jointly develop residential projects in Jakarta with an investment value of up to $470m (IDR5t). 

Both parties will inject an equal amount of capital for the projects. The new deal comes on the heels of Keppel Land and Metland’s first project to develop 500 landed homes in Greater Jakarta.

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