Manggarai Housing KPR Can Be Paid Over 40 Years, Fixed Interest at 6 Percent
PT Bank Tabungan Negara (Persero) Tbk (BTN) has prepared a Housing Ownership Loan (KPR) scheme for the Manggarai Housing project with a tenor of up to 40 years and a fixed interest rate of 6 percent until the loan is fully repaid. The housing prices are targeted to remain below Rp600 million and will be integrated with the Manggarai Transit Oriented Development (TOD) area.
BTN President Director Nixon L.P. Napitupulu said the scheme was designed to broaden public access to housing in the city centre with more affordable instalments. “Indeed, our mandate is to manage housing for the people. We are trying a 40-year KPR scheme with 6 percent interest until it is paid off. So the interest rate will not change,” Nixon said on the sidelines of the Manggarai Housing groundbreaking in Jakarta on Friday (21/8/2026).
The Manggarai Housing project is being developed by PT Kereta Api Indonesia (Persero) through KAI Properti and will feature 3,784 units across eight towers. The project is located in the Manggarai TOD area, which is integrated with public transport.
Nixon said housing prices would be kept below Rp600 million. The central location and proximity to public transport are among the project’s main attractions. “In the middle of Jakarta, close to transport, we are keeping the price below Rp600 million. It receives an interest rate subsidy,” Nixon said.
BTN has prepared two financing schemes: the Housing Financing Liquidity Facility (FLPP) and non-subsidised KPR. FLPP is intended for low-income communities who meet government requirements, while non-subsidised KPR targets a broader segment of the public. For non-subsidised KPR, BTN is offering down payments starting from 5 percent along with promotional interest rates.
Nixon said the Manggarai Housing project would become a pilot project for developing affordable vertical housing in the centre of Jakarta. The concept could potentially be applied in areas around stations and other public transport hubs. “In Jabodetabek there are many stations. We will start from railway station areas because it is easier. After that, perhaps we will discuss LRT and MRT areas,” he said.
According to Nixon, vertical housing is increasingly relevant because land for landed houses in major cities is becoming more limited and expensive. Housing integrated with public transport is also considered to suit the needs of urban communities, including the younger generation. “In Jakarta and other big cities, finding a landed house is already difficult and too expensive. So we have to be realistic, like other cities in the world, Jakarta must go upwards. Young people now also like it, as long as it is in the city centre and transport facilities are nearby,” Nixon said.
Alongside the groundbreaking, BTN and KAI Properti signed a Cooperation Agreement for the Manggarai Housing Programme. The cooperation covers the development of financing schemes, banking and transaction services, joint marketing, and support for consumer financing access.
BTN has also prepared balé by BTN as one of the channels for registering interest and paying the Booking Order Number for Manggarai Housing. BTN will apply prudential principles in loan disbursement by aligning the purchase process with the progress of project development. Meanwhile, discussions on construction financing for KAI Properti are still ongoing.
KAI President Director Bobby Rasyidin said the Manggarai Housing project is being developed on approximately 2.2 hectares of land and consists of eight towers of 24 storeys each. A total of 1,276 units will be built in Block G across three towers, while Block F has five towers with a total of 2,508 units. The project is also equipped with 150 supporting retail units.
Housing options range from 28-square-metre studio units to 52-square-metre three-bedroom units. The overall project construction is targeted to take around 18 months.
Minister of Housing and Settlement Areas Maruarar Sirait appreciated BTN’s role in financing subsidised housing. He encouraged the use of KAI assets in other locations to develop similar housing. “For FLPP, BTN is the undisputed champion. I ask Mr Nixon to build again in other places, so that railway assets can be developed immediately,” Ara said.
Chairman of the Housing Task Force Hashim Djojohadikusumo assessed that the construction of Manggarai Housing is a concrete step towards providing decent and affordable housing in the city centre. He stressed that the housing must be properly targeted and not controlled for speculative purposes. “We must be fair: one customer, one interested party, one apartment,” Hashim said.
Hashim expressed hope that the concept would be developed on other KAI assets so that more people could obtain affordable housing integrated with public transport.