Funding 350,000 Homes, SMF to Seek Rp5.39 Trillion State Capital Injection

JAKARTA, KOMPAS.com - PT Sarana Multigriya Finansial (Persero) or SMF plans to submit a State Capital Injection (PMN) of Rp 5.39 trillion to support financing for the Housing Financing Liquidity Facility Mortgage (KPR FLPP) in 2026. The funds are intended to help finance around 350,000 housing units for the public. SMF’s Director of Finance and Risk Management, Bonai Subiakto, said the PMN submission is still based on the funding needs calculations for the FLPP program that were previously conducted. ‘Up to now we are still using the basis of the calculations we did before. So our PMN for this year (to be submitted) is around Rp 5.39 trillion,’ Bonai said at a press conference in Jakarta, on Wednesday (4/3/2026). From that amount, Rp 5.39 trillion will be funded through PMN, while the rest comes from internal funds or market funding. ‘With the assumption of the same program at 350,000 units for KPR FLPP, the KPR FLPP funding needs for this year that SMF provides is around Rp 9 trillion, which will be covered by PMN Rp 5.4 trillion and around Rp 4.2 trillion we will use our own funds, either from the capital market or other funding sources,’ he added. He said the funding scheme is part of SMF’s efforts to fulfil its role as a liquidity provider for housing finance institutions. Through this support, the KPR FLPP programme is expected to continue and reach more low-income people. Bonai added that the combination of PMN and market financing is also a step to maintain the sustainability of national housing financing, especially in meeting housing needs through government programmes.