Say no to bad developers

JAKARTA (JP): As property exhibitions have become an important way to sell property, the government asked organizers yesterday not to allow developers to abuse the exhibitions by duping buyers.

The minister of Public Housing, Akbar Tandjung, said "you shouldn't only pursue transactions at the exhibitions. As an organizer you have to check developers' legal status first, before allowing them to participate".

He said there were several criminal cases involving bogus developers duping house buyers.

Tandjung was speaking at a meeting with PT Optima Galaria's president, William Yioda. PT Optima is organizing the '97 Jakarta Fair's property exhibition.

Thirty-two developers are participating in the exhibition.

Transactions worth Rp 100 billion (US$417 million) are expected to take place during the one-month exhibition.

"Transaction value has reached Rp 70 billion so far," he said. (bnt)