SMF Targets to Rejoin the Griya Tuntas Subsidised Housing Programme in 2026

Jakarta — PT Sarana Multigriya Finansial (Persero), or SMF, channels credit via the Housing Finance Liquidity Facility (FLPP) scheme and the Griya Tuntas programme. SMF’s Chief Executive Director Ananta Wiyogo said the state-owned company holds a 25% share of FLPP financing each year. The scheme is designed to sustain subsidised housing loans with a fixed interest rate of 5% for 20 years.

‘In KPR FLPP, our contribution accounts for 25% of total FLPP financing each year. Because we know the interest rate charged by the FLPP programme is a fixed rate of 5% and does not change for 20 years,’ Ananta said at SMF’s press conference in Jakarta on Wednesday 4 March 2026.

In the financing structure, 75% of FLPP funds are channelled through Tapera, while 25% go through SMF through a combination of State Capital Participation (PMN) and the issuance of debt securities. To date, cumulative PMN received amounts to Rp17 trillion and the debt securities issued to support the scheme are around Rp16.4 trillion.

‘So far we have received a cumulative PMN of Rp17 trillion, and we have issued debt securities of Rp16.4 trillion. So the total 25% amounts to Rp34.3 trillion for 904,000 housing units,’ he said.

During 2025, SMF channelled its FLPP share to 194,600 housing units with a funding requirement of around Rp8 trillion. Not only focusing on purchasing new homes, SMF is also addressing the housing repair sector through the Griya Tuntas programme.

This programme targets low-income households with a micro-loan ceiling averaging Rp3 million to Rp5 million and a maximum Rp10 million, with a tenor of three years. The government’s 2025 target of 50,000 units was exceeded.

SMF Corporate Secretary Primasari Setyaningrum said the realisation of the home repair programme exceeded the target set.

‘In the Griya Tuntas programme the target from the PKP ministry is 50,000 units, but in reality we achieved 52,000 units. And as of this year we are likely to continue participating in the Griya Tuntas programme,’ she explained.