Danantara to consolidate state-owned property enterprises

Jakarta (ANTARA) - The Chief Operating Officer (COO) of Danantara, Dony Oskaria, has revealed that Danantara is consolidating state-owned enterprises (SOEs) operating in the property sector.

“In essence, Danantara Housing is our effort to consolidate all our property companies. However, as many are aware, the current situation for these property companies is not ideal,” said Dony, who also serves as the Head of the State-Owned Enterprise Regulatory Agency (BP BUMN), in a statement in Jakarta on Friday.

He continued that through Danantara, the agency intends to improve the condition of these property-focused SOEs. “The principle for myself and the entire team is to improve our SOEs one by one using a corporate approach. This includes addressing those undergoing suspension of debt payment obligations (PKPU), such as PP Properti, as well as managing impairments.”

“From this total inventory, we will conduct marketing efforts so that the public can access all the inventory held by our property SOEs. We will not stop at the properties themselves; we will also create financing products. Consequently, all Himbara (state-owned) banks will develop more affordable financing products, making it more possible for the public to access housing credit, combined with the properties we hold,” Dony added.

For further information, the Minister of Investment and Downstreaming/Head of the Investment Coordinating Board (BKPM), who also serves as the Chief Executive Officer (CEO) of Danantara, Rosan Roeslani, stated that Danantara is preparing the Danantara Housing programme to assist in marketing houses and apartments built by SOEs that have yet to be absorbed by the market. He noted that the initiative is expected to accelerate the absorption of existing housing stock built by SOEs while expanding public access to home ownership.