Qatar plans to help finance the government’s national housing program with an expected investment of US$20 billion.
atar has tapped Chinese contractors to spearhead its funding for President Prabowo Subianto’s massive housing project aimed at constructing 3 million homes annually, according to an industry association.
“They’re investing in 1 million homes in cities, and they want the main contractor to be from China,” Real Estate Indonesia (REI) chairman Joko Suranto said on Tuesday, as quoted by Bisnis.com.
Qatar had pushed for relying on Chinese firms as the main contractors in the Doha-funded housing projects, Joko said, citing their successful track record in developing infrastructure for the 2022 FIFA World Cup held in Doha.
The decision was relayed by the national housing task force, Joko added, noting that, while Chinese firms would take the lead, local developers would still play a role in the project as subcontractors.
“REI [members] will be involved, we can propose which blocks we want to take on,” he said. “But the main contractor is [set to be] Chinese, and we’ll be in a subcontractor position.”
Qatar would help finance Prabowo's administration in building houses in villages and apartments in cities across the country with US$20 billion in expected investment, according to housing task force head Hashim Djojohadikusumo, who is also Prabowo’s brother.
Construction of housing in rural regions was expected to cost approximately Rp 75 million (US$4,575) per unit, while those in cities would range in cost from $18,000 to $20,000 per unit, Hashim said in January.
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