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AKARTA: Indonesia is still considered a big and promising property market. As such, it should be of no surprise that US-based developer Genton Property Group Development decided to begin selling its products in Jakarta earlier this month.

According to JLL Indonesia'€™s senior manager of residential project marketing, Alia Wahid, Genton Property Group Development marketed 59 apartments at the Four Seasons Private Residences in Los Angeles, California, which is set to begin operations in 2017.

'€œPrices start at US$2 million to $17 million per unit, or around Rp 29.4 to 250 billion,'€ Alia said, as quoted by Kompas.com.

All the apartments are available for buyers in Jakarta

'€œIndonesians, especially business owners and their families, often have one to two property units in Los Angeles. As far as I know, Los Angeles has one of the biggest Indonesian populations in the US. They definitely have a high income,'€ Hendra said.

Genton'€™s sale was not the first time a foreign property developer has entered into the Indonesian market. Previously, developers from Singapore, Malaysia, Australia and the UK have offered their products in Indonesia.

It has been this way since the 1990s, when the country was considered one of the great Asian tigers. Two decades later, Indonesia is still in high demand for foreign developers and investors.