Middle-Class Purchasing Power Declines, INPP Delays Launch of Tower 2 Antasari Place

JAKARTA - National economic growth reaching 5.61% apparently is not strong enough to bolster developers’ confidence in the middle-segment apartment sector. PT Indonesian Paradise Property Tbk (INPP) has officially decided to put the brakes on the Tower 2 Antasari Place project in South Jakarta. This move is a notable strategy amid the government’s macroeconomic optimism, while confirming cracks in real purchasing power in the middle segment. CEO of Paradise Indonesia, Anthony Prabowo Susilo, emphasised that the company now prefers to play it safe by redirecting priorities to projects deemed more strategically timed. “Our current focus is shifting to prioritise the Balikpapan project. For Tower 2 Antasari Place, we see an opportunity to re-evaluate its function, whether it remains residential or is repurposed as a hotel or SOHO for asset efficiency,” Anthony told Kompas.com on Monday (11/5/2026). Financially, this delay is a pragmatic form of risk mitigation. On paper, INPP actually has sufficiently stable fundamentals to proceed with construction, but market absorption urgency is a variable that is difficult to control. INPP’s Finance Director, Surina, stressed that management is very cautious in maintaining cash flow balance against expansion. For Surina, the company’s sustainability is far more important than forcing a launch when consumer purchasing power is still struggling against global and domestic economic fluctuations. “We must ensure that every capital outflow has a clear level of absorption certainty,” she stated. Management has prepared fixed-price contracts to shield the project from unexpected material price surges. On the other hand, for Tower 1, around 70 units remain, targeted to be fully sold this year. Meanwhile, throughout Q1-2026, INPP recorded solid financial performance. The company booked revenue of Rp 326.90 billion, up 14% year-on-year. Not only that, INPP also successfully turned its net profit performance positive.