Developers are building high-rise residential property projects on the capital'€™s outskirts to take advantage of growing demand for residences.

Vibrant and dynamic Jakarta has been a dream destination for many Indonesians because it offers a wealth of job opportunities. Jakarta is also known as a prestigious city because it boasts quality healthcare, education, amusement parks and sports centers, as well as other cutting-edge public amenities.

Owning a house or an apartment is an inevitable step for those living and working in the densely populated capital. The skyrocketing price of land in the capital city over the past several decades resulting from the scarcity of land, however, has left many unable to afford a place of their own.

Several residential property developers have responded to the situation by building residential property projects in areas that are outside, but still close to the capital.

Areas in Depok, Tangerang and Bekasi have since become favorite locations for prospective developers.    

PT Pujadi Prestige Tbk (Jayakarta Group) and Summarecon are among the developers currently developing projects to take advantage of the growing demand for apartments and houses.

PT Pudjiadi Prestige Tbk, for example, recently held a groundbreaking ceremony for their Green Palace Residence apartment complex at Jl. Raya Cikarang-Cibarusah in Bekasi, West Java.

The apartments occupy 2.5 hectares of land.

The ceremony, held on June 21, marked the beginning of construction. When finished, the complex will house four apartment towers and contain a total of 3,000 units of apartment. The towers, however, will be built in separate stages.

According to Pudjiadi Prestige president director Damian Pudjiadi, first-phase apartment units had been on the market since July of last year.

'€œSome 75 percent of the units have already been sold,'€ he said, as quoted by kompas.co.

'€œYoung professionals are our biggest market, and they are plentiful in the area of Bekasi and Cikarang, thanks to the development of industrial estates in those areas,'€ he said.

'€œThe flourishing industrial estates, which provide job opportunities for young professionals, have driven the growth of the vertical housing market as they need a place to live,'€ he added.

'€œThe fact that our apartment is located in close proximity to the Delta Mas, MM2100 and Jababeka industrial estates gives us an advantage,'€ he said.

According Pudjiadi Prestige director Toto Sasetyo, the early bird price for a 22 square meter studio apartment was initially set at Rp 190 million (US$15,797) per unit, but that the price had risen to Rp 246 million.

'€œThere has been about a 30 percent price increase in our apartment units,'€ he said.

In addition to the studio apartment, the apartment will also offer a 38 square meter unit, priced at Rp 11 million per square meter.

The apartment can be accessed from the Jakarta-Cikampek toll road via the exits at kilometer 28 and kilometer 34.

Second-phase construction is slated to be completed by the second half of 2016, with the whole complex expected to be finished by 2018.

Meanwhile, Summarecon Bekasi is currently marketing the just-built fourth tower in their Springlake Apartment complex.

The developer has expressed hopes that sales of Davallia tower units would replicate the success of the previous three towers.

Apparently, both apartments have attracted droves of prospective tenants who are concerned that high demand will lead to a quick sellout of units.

Two months earlier, Summarecon Bekasi succeeded in selling out apartments in Azolla, Basella and Caldesia; the complex'€™s first three towers.

The apartment itself is built on a mixed-use property that spans 8 hectares of land.

The area, which is zoned for commercial and residential use, is located at the same location as Sentra Summarecon Bekasi.

The apartment will be joined by a commercial center complete with shopping malls and shop houses. Hotels and office buildings will also be built in the designated areas.

According to the developer, most of the buyers have purchased more than one apartment unit.

'€œSome buyers have even bought units on multiple levels,'€ the developer said.

The surge in demand encouraged the developer to add a third tower when they had originally only planned to build three.

All units in the three towers were sold out on the day they were launched.

Just like the Green Palace Residence apartment project, the Davallia tower project at Springlake has attracted many buyers who are optimistic about the prospects of property investments in the area due to its strategic location. Most of the clients who have bought apartment units are investors.

As a consequence of surging demand, however, apartment rates at Green Palace Residences have risen significantly.

Springlake Apartments marketing officer Waty said that the apartment'€™s Davallia tower will be launched on July 5.

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