Finance firm for housing

Finance firm for housing

JAKARTA (JP): The Indonesian real estate association plans to
establish a multi-finance company to develop housing estates with
Bank Papan Sejahtera and Bank Bukopin, according to the
association's chairman.

Edwin Kawilarang said an agreement to set up the finance
company would be signed at the association's national meeting in
Jakarta next month.

Kawilarang was quoted yesterday by Antara news agency as
saying the company would offer housing loans and loans to housing
estate developers.

He urged the association's 1,200 member companies to buy
shares in the new company.

Kawilarang said the national three-day meeting, to be opened
by State Minister of Public Housing Akbar Tandjung on Nov. 10,
would focus on the association's role in wealth distribution
through housing development. (02)