BTN and KAI to Build 5,400 Rusun TOD Units at Manggarai Station
BTN and KAI have signed a Memorandum of Understanding (MoU) for the development of housing based on Transit Oriented Development (TOD) in several strategic cities across Indonesia. The MoU was signed by BTN’s Chief Executive Officer Nixon LP Napitupulu and KAI’s Chief Executive Officer Bobby Rasyidin at BTN Tower in Central Jakarta on Friday, 22 May 2026.”The collaboration between BTN and KAI focuses on developing vertical housing integrated directly with public transport such as the KRL Commuter Line, LRT, MRT, and Transjakarta,” Nixon said at the MoU signing in Jakarta. He explained that the initiative forms part of both BUMN’s support for the Government’s Three Million Homes Programme and addresses urbanisation and land constraints in city centres. He added that the TOD concept is increasingly relevant for Indonesia because it can connect housing, transport, and economic activity in a single integrated area.
“Future city development can no longer separate housing, transport, and centres of economic activity. Therefore, the Transit Oriented Development concept is highly relevant to be developed in Indonesia,” he said.
According to Nixon, many workers in Jakarta still live far from the city centre, so transport costs can reach 20 to 25 per cent of monthly income. Therefore, he continued, developing vertical housing in city centres can be a more efficient and affordable solution for urban residents.
In addition, he said, developing station precincts as hubs of housing and economic activity has already become a trend in many advanced countries such as Japan, Singapore, and Hong Kong. Nixon viewed such a model as capable of creating urban areas that are more efficient, productive, and comfortable for residents.
“Unit prices start from around Rp500 million for the low-income segment (MBR), while unsubsidised units are marketed from around Rp700 million up to above Rp1 billion depending on type and location of the tower,” he said.
To support affordability, BTN is preparing FLPP-based Rental Housing Financing with a fixed interest rate of six per cent per year and a tenure of up to 30 years. With this scheme, Nixon said, residents can own vertical housing in city centres with a down payment starting at one per cent and an estimated instalment of around Rp2.9 million per month for a Rp500 million unit.
He explained the programme is targeted at households earning up to Rp12 million per month for singles and Rp14 million per month for married couples. In addition to end-consumer financing, BTN is also preparing funding support through the Housing Programme Credit (KPP) scheme to support the ecosystem of enterprises in the housing area, including individual micro, small and medium enterprises (MSMEs).
“Through this scheme, BTN provides financing from Rp10 million up to Rp500 million for the purchase, construction, or renovation of homes while supporting community business activities,” he said.
BTN will support construction financing, Mortgage Financing (KPR), and demand pipeline management to support the TOD project development in other strategic areas owned by KAI. Nixon said BTN and KAI currently have around thousands of prospective early buyers for the Manggarai TOD project.
He added that the companies will verify the data progressively as part of demand housing data management. “Going forward, BTN and KAI will continue with technical discussions and phased project development so that the benefits of TOD areas can be felt by the public and support more integrated city development in Indonesia,” he said.
KAI President Director Bobby Rasyidin said the project combines affordable housing, TOD precincts, and the development of a new business hub in Jakarta. He said the work is a mandate from Indonesian President Prabowo Subianto.
“We are combining three elements. The first is vertically built housing that is affordable, which is part of the government’s important programme under President Prabowo Subianto. The second is realising the TOD concept, transit oriented development,” he said.