BP Tapera urges developers to explore FLPP vertical housing opportunities

Jakarta (ANTARA) – The People’s Housing Savings Management Agency (BP Tapera) has urged developers to explore opportunities for vertical housing under the Housing Finance Liquidity Facility (FLPP) scheme.

“Developers should also consider the opportunities for vertical housing under the FLPP scheme, which could be one solution. It does not need to be very tall; four or five storeys would be enough for FLPP,” BP Tapera Commissioner Heru Pudyo Nugroho said in a statement in Jakarta on Monday.

He said the government’s policy option of extending mortgage terms to as long as 40 years could give more people the opportunity to own a home.

Heru also said BP Tapera and the central government were currently formulating a policy on first-home ownership for middle-income and lower-middle-income households. He added that the agency was continuing to develop policies for subsidised housing.

Housing and Settlement Areas Minister Maruarar Sirait said urban housing provision was being directed towards vertical development.

He said housing provision, particularly in urban areas, faced constraints because of limited land available for building homes. Maruarar, known as Ara, said the direction came from President Prabowo, who wanted to limit the amount of land used for housing and instead promote vertical developments.

Ara also hoped that Transit-Oriented Development (TOD) housing, such as the development in Manggarai, Jakarta, could be built in other locations.

He plans to meet with state railway company KAI and PT Bank Rakyat Indonesia (Persero) Tbk (BRI), possibly to discuss TOD housing elsewhere.

He said the Manggarai housing development was an example of collaboration to make use of state assets, through a partnership between KAI and PT Bank Tabungan Negara (Persero) Tbk (BTN) to provide housing for the public.