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Property Industry To Support Economic Growth
Thursday, 31 Oct 2024
By the end of this year, property players in Indonesia are very confident that they will make a significant contribution to the country's Gross Domestic Product (GDP).
This confidence was expressed by a major property player in Indonesia. Adrianto P. Adhi, the President Director of PT Summarecon Agung Tbk, shared his optimism about the positive trends in the property market this year.
"Property is actually the engine of national economic growth. Why? Everyone knows there are over 185 sectors connected to property. This means that when demand is high, developers will build more. As this grows, those 185 industries will also thrive. That’s the economic impact we will see," Adrianto stated at Summarecon Tangerang, Tangerang Regency, on Wednesday (October 30, 2024).
It is no surprise that in 2023, the industrial sector contributed 16.3 percent to Indonesia's GDP. With 13 to 18 million workers involved, the property sector is expected to continue growing despite the economic instability following the pandemic.
Moreover, Adrianto added that if the central government continues to provide tax incentives for value-added tax, it will benefit consumers. This will make it easier for younger generations to own residential or business properties. The property sector is expected to further boost the domestic market.
The property sector is ready to take advantage of government incentives, and we will move forward with support from other sectors. Summarecon is also part of the growing property market, he said.
As the year comes to a close, Summarecon Agung, Tbk is expanding into areas close to industry by launching a new residential area, offering houses priced at Rp 950 million each in Bitung, Curug District, Tangerang Regency.
"This is an industrial area that needs housing. Several developers are also present here due to the demand. If we look at the Serpong area, it is expanding massively southward and is now developing westward towards Pasar Kemis, Balaraja, and others," Adrianto explained.
In the initial phase, Summarecon Tangerang is investing around Rp 200 billion to market two-story houses measuring 5x12 meters for Rp 940 million. This price is the lowest after previously focusing on selling homes priced in the billions.
There are also luxury landed houses available, starting from Rp 2.5 billion to Rp 4.7 billion each.
