REI Wants Japanese Support in Township and Low-Cost Housing Development
Jakarta. Real Estate Indonesia, a property industry group known as REI, has invited Japanese property developers to take part in township and low-cost housing projects across the country, following Prime Minister Shinzo Abe's commitment to increase investment in Indonesia, an executive said on Sunday (19/11).
REI vice chairman for international affairs Rusmin Lawin said that while Japanese developers have already participated in massive projects such as Tokyu Land Group and Aeon Mall in BSD City and are used to working with big Indonesian companies, they have been overlooking smaller-scale local developers.
"We encourage Japan to be involved in developing low-cost housing and smart cities," Rusmin said in an email interview.
Rusmin's comment came after representatives from REI went to Japan on Nov. 9-16 to have an audience with the Japanese Ministry of Land, Infrastructure, Transportation and Tourism, the Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN), as well as the Japan Federation of Housing Organizations.
During the visit, Rusmin and other Indonesian envoys met with Land, Infrastructure, Transport and Tourism Minister Keiichi Ishii to discuss housing programs, smart cities and eco-housing projects.
He also introduced Indonesia's 10 new tourism destinations, which are promoted by the government to attract more international visitors.
"We don't have figures and details on the projects yet, but the [Japanese] ministry agreed to increase investment into Indonesia's real estate sector, in line with a bilateral commitment made on the sidelines of the Asean Summit last week," Rusmin said.
Rusmin referred to a meeting between President Joko "Jokowi" Widodo and Abe in the Philippines earlier this month.
Investment Coordinating Board (BKPM) chairman Thomas Lembong said at the beginning of this year that Japanese investors are starting to put their money into real estate and property projects.
According to JOIN, Japanese developers have so far invested in cold storage facilities in Jakarta and in mixed-use projects in BSD City and East Jakarta.
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