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Jakarta Post

Indonesia aims to attract more Australian real estate investment

  • The Jakarta Post

    The Jakarta Post

  /   Thu, March 17, 2016   /  01:14 pm
Indonesia aims to attract more Australian real estate investment

Foreign tourists visit the famous Kuta Beach in Bali, Indonesia's most popular tourist destination.(Antara/Fikri Yusuf)

Indonesia aims to lure more real estate investment from neighboring country Australia by stepping up promotion and intensifying communications with Australian businesspeople.

According to Investment Coordinating Board (BKPM) data, four Australian companies have proposed  total investment of US$13 million into real estate in West Nusa Tenggara, a growing tourist destination next to Bali.

'€œReal estate is Australia'€™s largest investment in the world but its share in Indonesia is only 1 percent [of its global value],'€ said BKPM deputy chief on investment promotion Himawan Hariyoga in Jakarta on Wednesday.

The government, he continued, would encourage Australian investors to invest more in Indonesia'€™s real estate due to its strategic position as a neighboring country listed as Indonesia'€™s 12th largest investor.

Past political tensions between the two countries may be the reason for Australia'€™s meager investment in Indonesia, Himawan said.

Australian investment realization in Indonesia reached $168 million in 2015, mostly in the mining and husbandry sectors. Later, according to Himawan, it would aim for broader industries such as fishery, logistics and tourism.

Australia is among Indonesia's investment promotion focuses together with Japan, South Korea, Singapore, China and Taiwan, which is expected to help Indonesia achieve its Rp 3.5 quadrillion investment target realization in 2019. (sha/ags)(+)

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