Danantara to Accelerate Resolution of LRT City Development Problems Next Month
The Daya Anagata Nusantara Investment Management Agency (BPI Danantara) has provided an update on the LRT City apartment project being developed by PT Adhi Commuter Properti Tbk (ADCP). The project had stalled, causing delays in the handover of units to homeowners.
Chief Operating Officer of BPI Danantara Dony Oskaria confirmed that the resolution of the issue will be accelerated in September 2026. The plan is for Danantara, through Danantara Aset Manajemen (DAM), to inject additional capital to cover the shortfall in construction costs for the Transit Oriented Development (TOD)-based housing project through the parent company, PT Adhi Karya (Persero) Tbk (ADHI).
“Whether it takes the form of equity, in which case other shareholders will be diluted, or a shareholder loan,” he said when met at the DPR RI building in Jakarta on Monday (31/8/2026).
The man who also serves as Head of the State-Owned Enterprises Supervisory Board said Danantara will again summon the management of ADHI. Meanwhile, the capital injection will be decided through a General Meeting of Shareholders (RUPS).
“We will summon Adhi Karya soon, but it will be conveyed to colleagues that I am preparing their work plan because they are a publicly listed company. So every capital injection must have a decision from their RUPS,” he explained.
According to him, the housing issue must be resolved as quickly as possible to fulfil the rights of consumers. “It will be settled this month, and we will submit it to Adhi Karya so that the process for public housing can proceed,” he said.
He added that the resolution of the stalled project is still being discussed to find the fastest solution.
“Of course there will be, what is it called, whether there will be unit transfers and so on. We will meet with Adhi Karya in more detail this week. Then after this week we will immediately enter the process of providing assistance to Adhi Karya for the completion of this project,” he said.
For information, the stalled LRT City apartment project will be injected with funds amounting to Rp456 billion from Danantara so that it can be completed.
In response, the management of PT Adhi Commuter Properti Tbk (ADCP) said it is currently discussing the plan for the use of funds with PT Adhi Karya (Persero) Tbk (ADHI) as the parent company and Danantara.
“Currently, ADCP is still in discussions with ADHI and Danantara regarding the use of funds and the priority of projects to be funded,” said ADCP management in a statement to detikProperti on Sunday (30/8/2026).
ADCP assured that the proposal, determination, and use of funds will be carried out in accordance with the principles of Good Corporate Governance (GCG) and applicable governance. The final decision regarding the use of funds will be announced once an agreement is reached.
“If a final agreement has been reached, we will convey the information,” he said.
Previously, ADCP had revealed the reasons why the construction of the LRT City Apartments in Tebet, Ciracas, and Cibubur had stalled. They acknowledged that the company was experiencing financial difficulties and undergoing restructuring, which caused the project to be hampered.
“The current condition faced by the Company is influenced by liquidity pressures, the implementation of the corporate restructuring process, as well as various strategic measures to maintain business continuity,” said Farid Budiyanto, Director of Operations at ADCP, to detikcom on Wednesday (22/7/2026).
They will complete the project in stages according to the company’s capabilities and condition. According to Farid, improvements in the company’s financial and operational condition are underway. They are also striving to ensure that the handover of units to consumers can be carried out soon.
ADCP has also apologised for the construction delays. Farid emphasised that the project will continue and they are working to maintain open communication with consumers.