Govt promotes low-cost apartments

Govt promotes low-cost apartments

SURABAYA: Minister of Resettlement and Regional Infrastructure
Soenarno called on developers on Tuesday to build more low-cost
apartments for the poor.

In his address to participants of East Java's Real Estate
Developers Association (REI) congress, Soenarno said the time was
ripe for the nation to start living in apartments due to the
limited supply of land and lack of order in land administration.

"We hope REI will adopt an appropriate approach to promote the
construction of apartments for people in the middle- and lower-
income categories," Soenarno said, adding that the demand for new
houses was on the rise.

He stressed that 40 million poor people remained in need of
housing.

In this fiscal year, the government has allocated Rp 256
billion as a subsidy for the development of 130,000 dwellings
suitable for people in the lower-income bracket.

Soenarno said 11 banks had already pledged their commitment to
participate in the project, -- Antara