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Jakarta Post

REI expects property to recover next year

  • Marchio Irfan Gorbiano

    The Jakarta Post

Jakarta   /   Wed, December 4 2019   /  01:49 am

Real estate developers hope the government’s recent push to attract investment through regulatory reform will help revive the property sector, which has spent years in the doldrums.The chairman of the Indonesian Real Estate Developers Association (REI), Soelaeman Soemawinata, said many property companies had begun to develop new projects as they believed improvements to the investment climate would boost economic growth that would, in turn, drive demand in the property sector.“There are hopes the property sector will recover. Many developers have taken the initiative to kick start projects so that the property [sector] can flourish again,” Soelaeman said in Jakarta on Nov. 27.The downturn in the real estate sector was close to its lowest point, he said, adding that industry players expected to see a turnaround soon.Soelaeman said the wait-and-see attitude shared by businesspeople s...