Australian Ray White opens five outlets in Indonesia

Australian Ray White opens five outlets in Indonesia

JAKARTA (JP): Australian-based property broker, Ray White Real
Estate, has opened five outlets here under its local name, Ray
White Indonesia (RWI).

RWI's chief executive Johann B. Nurtanio said here Saturday
that the brokerage would soon open another five outlets in
Surabaya, East Java.

He said that the property brokerage chain expected to open at
least 40 new outlets during the first year of its operation.

The Australian company had established a local joint venture
called PT Ray Propertindo as the holder of RWI's franchising
rights, he said.

Johann said his company expected to reach a sales target of Rp
750 billion (US$227.27 million) in its first year, despite the
current sluggish property market.

"I am optimistic that we will reach the target because of our
strong background as real estate brokers," he said.

He said Ray White's understanding of the real estate market
and the application of its knowledge through effective marketing
practices would strengthen the sales of property.

RWI handles secondary market sales, project marketing, and
commercial properties, Johann said.

The company now handles project marketing of several housing
projects, including Alam Sutra and Griya Hijau in Serpong (West
Java), and Kenpinski apartments, Bona Vista apartments and Lebak
Bulus Town Houses in Jakarta.

The properties will be offered for sale during auctions held
in cooperation with local auction house operator PT Triagung
Lumintu.

Johann said each franchisee would impose a consumer fee of
between 2.5 and three percent of the total sales price. He said
eight percent out of this fee would be given to RWI.

Ray White's marketing director Greg Toyama said marketing
properties through auctions proved successful in Australia, with
a successful sales rate reaching 91 percent.

Toyama said the system cut the average days that a property is
on the market from 30 to 60 days.

Ray White started out as a family business in 1902 in
Queensland, Australia. Headquartered in Brisbane, the chain has
expanded its operations throughout Australia, Singapore and Papua
New Guinea. (das)