The Asia Pacific Property Conference (APPC), which recently concluded at The Langham, Shanghai, highlighted the vast potential of the Indonesian property market to an audience of prominent Southeast Asian developers, Chinese property professionals and global investors.
The two-day event, held from 13-14 October, focused on the entry of Indonesian developers into the international arena. Rusmin Lawin, Special Envoy of the Nusantara Capital City National Transition Committee, revealed ambitious plans to make the new Indonesian capital one of the world’s leading sustainable cities by 2045.
“Investors were attracted to the opportunities in Indonesia firstly because of Nusantara, the capital city,” he told the Globe on Tuesday.
Nusantara, the future capital of Indonesia, covers an area of 2,561 square kilometres and is estimated to cost Rp 466 trillion rupiah ($46 billion) to build. The government would bear about 19-20 per cent of the cost, with the rest coming from the private sector, state-owned enterprises and public-private partnerships.
Rusmin, who is also the deputy chairman for international cooperation at Real Estate Indonesia (REI), also touched on Indonesia’s recently streamlined foreign property ownership regulations, making it an even more attractive destination for international investors.
In addition, Rumin shed light on the growing digital nomad community in the popular tourist destination of Bali, and mentioned the Golden Visa programme, which promises an attractive path to long-term residency in Indonesia for eligible candidates.
“It’s also interesting that many of the Chinese investors have heard about Whoosh and wanted to visit Indonesia to experience it,” said Rusmin, referring to the newly inaugurated Jakarta-Bandung high-speed train, which was partly funded by China.
“This shows how infrastructure development can also boost tourism,” Rusmin said.
Also at the conference, Yunus Karim, head of research at JLL Indonesia, presented a detailed analysis of Indonesia’s property sector, from residential to hotel.
Karim highlighted the opportunities for international collaboration, pointing to Indonesia’s impressive growth and resilience, particularly post-pandemic, and government initiatives to encourage foreign ownership of residential property.
Winston Lee, Director of Special Projects (Greater China) at PropertyGuru, noted the improved security for Chinese nationals in Indonesia, which he attributed to the country’s stable economic development.
The APPC served as an influential forum that fostered collaboration and knowledge sharing, consolidating its position as a key event for anyone interested in the burgeoning property markets of Asia, and Indonesia in particular.
