TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsJakarta developers eye IPOs to raise funds for housing program
Regional association REI Jakarta has suggested property developers launch IPOs to raise fund's for the government's ambitious social housing program, calling the potential move a way for developers to increase their competitiveness as well as engage more substantially with the sector.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
A man walks beneath a concrete canopy of the Sentra Mulya Jaya low-cost apartment in Cipayung, East Jakarta, on Jan. 26, 2024. (Antara/Asprilla Dwi Adha)
A
regional branch of industry association Real Estate Indonesia (REI) has suggested launching initial public offerings (IPOs) to help fund President Prabowo Subianto’s “3 million homes” program, which aims to increase the housing supply and tackle the nationwide backlog.
“It’s time for the property sector to be more connected with the capital market and global investors,” REI’s Jakarta head Arvin F. Iskandar said on Thursday, as quoted by Bisnis.com.
“This is important so that developers in Jakarta can thrive and become more competitive, especially in managing strategic assets and large-scale projects,” Arvin said, noting that only 1 percent of the association’s some 500 members was listed on the stock exchange.
“We will work with 50 developers gradually [to facilitate their IPOs], starting with five this year,” he added.
The association plans to help 10-20 developers go public or issue other property investment instruments each year as it also strengthens cooperation with global investment institutions, such as private equity and venture capital firms.
REI Jakarta also aims to establish a Jakarta Property Index as a performance indicator for the region as well as a reference for both domestic and foreign investors.
“The regional conference of the REI Jakarta executive board will also draft a policy brief containing substantive recommendations for presenting to the government,” Arvin said.
