Subhome Hospitality will cooperate with the Indonesia Property Association to help manage rentals of empty apartments belonging to individuals. (Photo courtesy of Indonesia Proptech Association)
AirAsia's Subhome Hospitality Taps Indonesia for Expansion
BY :NUR YASMIN
MAY 16, 2019
Jakarta. Subhome Hospitality Group, a Malaysian apartment suite operator, signed an agreement with the Indonesia Proptech Association to work on the apartment market in the archipelago.
Subhome, a subsidiary of Malaysian budget airline operator, the AirAsia Group, manages 20 locations in that country, according to Sandeep S. Grewal, chief executive of Subhome. It plans to work with local companies through the Indonesia Proptech Association.
Indonesia Proptech Association chairman Rusmin Lawin said Subhome will help manage rentals of empty apartments belonging to individuals.
"Subhome will be a solution to empower empty apartments so they become valuable. It is income-sharing based," Rusmin told the Jakarta Globe on the sidelines of an Indonesia Proptech Association prelaunch event on Wednesday.
Subhome and the association will start offering its services in Jakarta.
"We are currently exploring the Ciputra Group, Mustika Group and Riyadh Group," Rusmin said.
The Indonesia Proptech Association was established to accelerate growth in the country's property sector, supported by the development of efficient and effective technology.
Rusmin said global property companies are starting to implement the latest technologies, such as artificial intelligence and drones, to help them manage and maintain their properties, boosting income.
He said the association has identified startups in those areas of expertise to help the local property sector.
"We already have seven proptech startups that are running successfully, and we will recruit more potential startups to build and help find funding," said Rusmin, who is also a board member of the Paris-based International Real Estate Federation (Fiabci).
Among prominent names attending the Indonesia Proptech Association's prelaunch event on Wednesday were Soelaeman Soemawinata, president of the Indonesian Real Estate Association; Ilham A. Habibie, a senior figure in field of technology; Allan Phang, the head of AirAsia Esports; Leo Lo, founder of Asia Proptech; and William Lai, president of the Singapore Proptech Association.
The event also saw the Indonesian Proptech Association sign a memorandum of understanding with its regional peers, Asia Proptech and the Singapore Proptech Association.