{
    "success": true,
    "data": {
        "id": 1732638,
        "msgid": "middle-class-purchasing-power-declines-inpp-delays-launch-of-tower-2-antasari-place-1778555657",
        "date": "2026-05-12 05:30:00",
        "title": "Middle-Class Purchasing Power Declines, INPP Delays Launch of Tower 2 Antasari Place",
        "author": "Hilda B Alexander",
        "source": "KOMPAS",
        "tags": "",
        "topic": "Property",
        "summary": "PT Indonesian Paradise Property Tbk (INPP) has postponed the launch of Tower 2 at Antasari Place in South Jakarta due to declining middle-class purchasing power, despite national economic growth of 5.61%. The company is shifting focus to a more promising project in Balikpapan and considering repurposing the tower into a hotel or SOHO to optimise asset efficiency. INPP reported solid Q1-2026 financials with revenue up 14% to Rp 326.90 billion and a return to positive net profit, underscoring a cautious approach to expansion amid market uncertainties.",
        "content": "<p>JAKARTA - National economic growth reaching 5.61% apparently is not\nstrong enough to bolster developers\u2019 confidence in the middle-segment\napartment sector. PT Indonesian Paradise Property Tbk (INPP) has\nofficially decided to put the brakes on the Tower 2 Antasari Place\nproject in South Jakarta. This move is a notable strategy amid the\ngovernment\u2019s macroeconomic optimism, while confirming cracks in real\npurchasing power in the middle segment. CEO of Paradise Indonesia,\nAnthony Prabowo Susilo, emphasised that the company now prefers to play\nit safe by redirecting priorities to projects deemed more strategically\ntimed. \u201cOur current focus is shifting to prioritise the Balikpapan\nproject. For Tower 2 Antasari Place, we see an opportunity to\nre-evaluate its function, whether it remains residential or is\nrepurposed as a hotel or SOHO for asset efficiency,\u201d Anthony told\nKompas.com on Monday (11\/5\/2026). Financially, this delay is a pragmatic\nform of risk mitigation. On paper, INPP actually has sufficiently stable\nfundamentals to proceed with construction, but market absorption urgency\nis a variable that is difficult to control. INPP\u2019s Finance Director,\nSurina, stressed that management is very cautious in maintaining cash\nflow balance against expansion. For Surina, the company\u2019s sustainability\nis far more important than forcing a launch when consumer purchasing\npower is still struggling against global and domestic economic\nfluctuations. \u201cWe must ensure that every capital outflow has a clear\nlevel of absorption certainty,\u201d she stated. Management has prepared\nfixed-price contracts to shield the project from unexpected material\nprice surges. On the other hand, for Tower 1, around 70 units remain,\ntargeted to be fully sold this year. Meanwhile, throughout Q1-2026, INPP\nrecorded solid financial performance. The company booked revenue of Rp\n326.90 billion, up 14% year-on-year. Not only that, INPP also\nsuccessfully turned its net profit performance positive.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/middle-class-purchasing-power-declines-inpp-delays-launch-of-tower-2-antasari-place-1778555657",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}