Over 7,000 condominium units marketed this year

Over 7,000 condominium units marketed this year

JAKARTA (JP): More than 7,000 units of newly constructed
condominiums will be marketed here this year.

The Indonesian Association of Real Estate Brokers (AREBI)
announced here on Saturday that about 4,000 condominium units
were sold in Jakarta last year, of which 2,000 units were
marketed through Association members.

Association spokesperson, Indri Gessa, said two-thirds of the
housing transactions through its members were marketed by
domestic brokerage companies, with the remaining one-third
marketed by firms affiliated to foreign companies.

"This means that domestic agents still dominate housing
marketing in the capital," she said, while announcing the
Association's plan to organize a seminar here next week.

Indri admitted that foreign-affiliated enterprises dominate
the marketing of office buildings and space by about 80 percent.

The Association's chairwoman, Cynthia G. Sonneville, and
advisor Pingky E. Pangestu said that the group will hold the
seminar at the Sahid Jaya Hotel here on May 13 to discuss the
participation of real estate brokers in the property business.

State Minister of Public Housing Akbar Tandjung is expected to
deliver a keynote address at the meeting.

Other speakers at the seminar will be Ciputra, the chairman of
Jaya Group, James Riady, deputy chairman of Lippo Group, and
Indri Gessa, who is also director of PT Indo Pacific Property.
(icn)