Sun, 09 Jan 2011
Bandung, West Java (ANTARA News) - A company president director said the prospect of property business in Indonesia is brighter and the business is projected to flourish with growth expected to be around 20 to 30 percent.

"The housing demand is still quite high and on the other hand the economy also keeps improving and the rate of housing credits is reaching the lowest. The property business is predicted to be booming in 2011," the president director and chief executive officer of PT Bakrieland Development Tbk., Hiramsyah S Thoib, said on the sidelines of a meeting of alumni of the Bandung Institute of Technology (ITB) of 1981 Class here on Saturday.

He said the housing demand in Indonesia reaches eight million units while the public purchasing power keeps increasing driven by aggressive banking operations in the property sector after the rate of housing credits (KPR) dropped to between 10 and 11 percent.

There are even banks that have set their KPR rates at below 10 percent giving a fresh atmosphere to increase sales of vertical as well horizontal housing units, he said.
"Clearly some sectors have grown such as motorbike market and car purchases in the past five years and we believe in 2011 the turn will be for property industry," he said.

Hiramsyah said the growth of the property sector in 2010 was quite positive although it was still below 20 percent. However with the increasing indicators of public economic capacity it was not impossible that the industry could achieve 20 to 30 percent growth in 2011.

The present condition of property industry has not been affected much by the monetary crisis due to a shift in capital power they used to fund projects, he said.

"The pressure from the economic crisis in 2008 on the property sector was not too big because property developers have been using their own funds unlike in 1988 crisis when the industry used much funds from banks," he said.

The growth in the housing sector also covers common houses and apartments. The government`s policy that has eased the requirements and lowered the KPR interest rates has helped give a boost.

"The government`s policy that supports especially the growth of flats has helped boost the industry despite obstables of inter-sectoral synchronization and coordination and central-regional policy difference," he said.

In 2009 he said the property industry still took a wait and see stance but as the impact of the global crisis was not too strong the growth of the industry has become positive.

On the other hand in 2011 prices certainly would rise significantly although it is predicted not to be above 10 percent, he said.

With regard to flats (rusunami) he said his company plans to build three towers in East Jakarta with each tower to have 300 units.

He said his company had already planned the project cost for 2011 of between Rp2 trillion to Rp2.5 trillion, which is higher than last year.(*)



News Search/Filter
Transaction Rates
16 Jul 18
Buy
Sell
AED1
3,885.59
3,885.59
AFN1
197.13
197.13
ALL1
132.07
132.07
AMD1
29.71
29.71
ANG1
7,737.95
7,737.95
AOA1
56.07
56.07
ARS1
523.34
523.34
AUD1
10,587.37
10,587.37
AWG1
7,977.57
7,977.57
AZN1
8,382.91
8,382.91
BAM1
8,597.43
8,597.43
BBD1
7,135.95
7,135.95
BDT1
170.35
170.35
BGN1
8,527.92
8,527.92
BHD1
37,673.06
37,673.06
BIF1
8.05
8.05
BMD1
14,271.91
14,271.91
BND1
10,557.71
10,557.71
BOB1
2,066.07
2,066.07
BRL1
3,706.12
3,706.12
BSD1
14,271.91
14,271.91
BTC1
94,212,448
94,212,448
BTN1
208.52
208.52
BWP1
1,387.71
1,387.71
BYN1
7,250.59
7,250.59
BZD1
7,102.86
7,102.86
CAD1
10,847.07
10,847.07
CDF1
8.84
8.84
CHF1
14,239.87
14,239.87
CLF1
602,953.63
602,953.63
CLP1
21.92
21.92
CNH1
2,128.19
2,128.19
CNY1
2,131.53
2,131.53
COP1
4.98
4.98
CRC1
25.16
25.16
CUC1
14,271.91
14,271.91
CUP1
559.68
559.68
CVE1
150.86
150.86
CZK1
643.68
643.68
DJF1
80.17
80.17
DKK1
2,235.98
2,235.98
DOP1
287.64
287.64
DZD1
121.22
121.22
EGP1
797.33
797.33
ERN1
944.25
944.25
ETB1
517.07
517.07
EUR1
16,670.30
16,670.30
FJD1
6,801.03
6,801.03
FKP1
18,877.66
18,877.66
GBP1
18,877.66
18,877.66
GEL1
5,827.53
5,827.53
GGP1
18,877.66
18,877.66
GHS1
2,982.26
2,982.26
GIP1
18,877.66
18,877.66
GMD1
298.17
298.17
GNF1
1.57
1.57
GTQ1
1,904.82
1,904.82
GYD1
68.48
68.48
HKD1
1,818.41
1,818.41
HNL1
595.33
595.33
HRK1
2,254.66
2,254.66
HTG1
213.82
213.82
HUF1
51.54
51.54
IDR1
1.00
1.00
ILS1
3,916.28
3,916.28
IMP1
18,877.66
18,877.66
INR1
208.35
208.35
IQD1
11.97
11.97
IRR1
0.33
0.33
ISK1
133.13
133.13
JEP1
18,877.66
18,877.66
JMD1
109.37
109.37
JOD1
20,115.36
20,115.36
JPY1
126.97
126.97
KES1
141.71
141.71
KGS1
208.91
208.91
KHR1
3.52
3.52
KMF1
33.81
33.81
KPW1
15.85
15.85
KRW1
12.62
12.62
KWD1
47,087.25
47,087.25
KYD1
17,131.87
17,131.87
KZT1
41.66
41.66
LAK1
1.69
1.69
LBP1
9.42
9.42
LKR1
89.51
89.51
LRD1
89.33
89.33
LSL1
1,073.00
1,073.00
LYD1
10,413.92
10,413.92
MAD1
1,507.64
1,507.64
MDL1
854.90
854.90
MGA1
4.23
4.23
MKD1
270.41
270.41
MMK1
10.03
10.03
MNT1
5.85
5.85
MOP1
1,766.12
1,766.12
MRO1
40.14
40.14
MRU1
398.43
398.43
MUR1
416.08
416.08
MVR1
926.74
926.74
MWK1
19.71
19.71
MXN1
754.95
754.95
MYR1
3,522.62
3,522.62
MZN1
242.14
242.14
NAD1
1,072.99
1,072.99
NGN1
39.58
39.58
NIO1
450.45
450.45
NOK1
1,757.53
1,757.53
NPR1
130.34
130.34
NZD1
9,651.87
9,651.87
OMR1
37,079.05
37,079.05
PAB1
14,271.91
14,271.91
PEN1
4,365.12
4,365.12
PGK1
4,339.96
4,339.96
PHP1
266.44
266.44
PKR1
117.32
117.32
PLN1
3,865.05
3,865.05
PYG1
2.50
2.50
QAR1
3,919.96
3,919.96
RON1
3,579.00
3,579.00
RSD1
141.27
141.27
RUB1
228.27
228.27
RWF1
16.42
16.42
SAR1
3,805.48
3,805.48
SBD1
1,813.35
1,813.35
SCR1
1,054.02
1,054.02
SDG1
790.76
790.76
SEK1
1,604.61
1,604.61
SGD1
10,449.03
10,449.03
SHP1
18,877.66
18,877.66
SLL1
2.26
2.26
SOS1
24.69
24.69
SRD1
1,913.63
1,913.63
SSP1
109.56
109.56
STD1
0.67
0.67
STN1
675.75
675.75
SVC1
1,631.64
1,631.64
SYP1
27.69
27.69
SZL1
1,072.33
1,072.33
THB1
428.46
428.46
TJS1
1,554.20
1,554.20
TMT1
4,077.70
4,077.70
TND1
5,401.38
5,401.38
TOP1
6,184.77
6,184.77
TRY1
2,938.85
2,938.85
TTD1
2,118.24
2,118.24
TWD1
466.69
466.69
TZS1
6.27
6.27
UAH1
544.28
544.28
UGX1
3.84
3.84
USD1
14,271.91
14,271.91
UYU1
454.92
454.92
UZS1
1.82
1.82
VEF1
0.17
0.17
VND1
0.62
0.62
VUV1
130.69
130.69
WST1
5,521.26
5,521.26
XAF1
25.41
25.41
XAG1
225,719.93
225,719.93
XAU1
17,714,779.99
17,714,779.99
XCD1
5,280.90
5,280.90
XDR1
20,009.07
20,009.07
XOF1
25.41
25.41
XPD1
13,436,561.47
13,436,561.47
XPF1
139.69
139.69
XPT1
11,830,950.74
11,830,950.74
YER1
56.99
56.99
ZAR1
1,075.85
1,075.85
ZMW1
1,441.30
1,441.30
ZWL1
44.27
44.27
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services