PT Grahabuana Cikarang and Creed Group from Japan have last week signed memorandum of understanding (MoU) for setting up a joint venture (JV) company, to develop commercial and residential areas. Grahabuana is subsidiary of Kawasan Industri Jababeka (KIJA). Grahabuana and Creed Group intend to develop gold-concept apartment project covering 3.7 hectares land area. The project is called as Jababeka Signature Golf Apartment. Grahabuana will hold 60% interest in the JV while Creed Group holds the rest 40%.