Govt. to Build 1,000 Low-Cost Apartment Towers
The government is set to speed up development of 1,000 low-cost apartment towers in 10 large cities across the country, Antara reported on Thursday (8/2/07).
The project is to cope with acute housing problems in urban areas in the country, President Susilo Bambang Yudhoyono said.
It will be a priority project in the next five years and subsidy will be provided, he added.
The project will be launched in Kemayoran and Pulo Gebang in Jakarta with 20-story towers, he said.
A government official said a unit would be sold at Rp90 million ($10,000) to Rp145 million and buyers could pay in installments of Rp300,000 to Rp1.1 million a month.
The project is to cope with acute housing problems in urban areas in the country, President Susilo Bambang Yudhoyono said.
It will be a priority project in the next five years and subsidy will be provided, he added.
The project will be launched in Kemayoran and Pulo Gebang in Jakarta with 20-story towers, he said.
A government official said a unit would be sold at Rp90 million ($10,000) to Rp145 million and buyers could pay in installments of Rp300,000 to Rp1.1 million a month.