Sinar Mas Land: Until the End of 2019, Investors Still Wait and See

By : Ridwan And Aldi Firhand. A | Sunday, April 08 2018 - 20:10 IWST

Sinar Mas Land Received IDC Digital Ttansfornation Awards 2017 Award (Photo Ridwan)
Sinar Mas Land Received IDC Digital Ttansfornation Awards 2017 Award (Photo Ridwan)

INDUSTRY.co.id - Jakarta, Property industry in Indonesia will still experience sluggishness until the completion of the whole series of political events in late 2019.

This was stated by CEO of Strategic Development and Service of Sinar Mas Land Ishak Chandra in a press conference of the Easy Deal program in Jakarta (7/4/2018).

"The condition of sales will remain sloping, after the election will rise again, whoever the president is elected," Ishak said.

He added, the sluggish property market is not because investors do not have the financial strength. However, before the election, investors often take a cautious stance.

"They will wait and see until 2019," he said.

In addition, he continued, since 2017, the property industry met a new trend. The products sold are in the middle-low segment, in the range of Rp 300-500 million.

"The composition of property sales in 2017, 60 percent is in the middle-low segment," he explained.

According to him, although the products that sell are middle to lower class, buyers remain upper middle class.

"Most buyers are investors, not users or property buyers to use privately. Probably if you buy one, now buy 10," he said.

Based on the condition, Ishak appealed Sinar Mas Land developers more creative product peddling. Moreover, he added, most property of Sinar Mas Land is upper middle segment, with range Rp 2-5 billion.

"Creative to trigger people who have money to want to spend the money," said Isaac.

News Comment

Today's Industry

The President Director of PT Trimegah Sekuritas Indonesia Tbk (TRIM), Philmon Tanuri (left) delivered remarks at the kick off of Trimegah's collaboration with IA SBM-ITB in Jakarta on Wednesday (05/06/2024).

Jumat, 07 Juni 2024 - 19:43 WIB

Trimegah Sekuritas Supports Ikatan Alumni SBM-ITB to Realise Lifelong Learning Mission

In order to realise its mission of “Educate and create wealth for community through unique and professional investment experience”, PT Trimegah Sekuritas Indonesia Tbk (TRIM) collaborates…

Wellington College Independent School Jakarta (WCIJ)

Senin, 29 April 2024 - 05:02 WIB

One of the UK’s Most Established Schools Chooses Jakarta for Their Latest Opening

Wellington College Independent School Jakarta (WCIJ) is thrilled to announce its grand opening in September 2024! As the first private UK school to open in Indonesia, WCIJ, a pioneering co-educational…

Presiden Jokowi

Selasa, 23 April 2024 - 10:29 WIB

President Jokowi Reaffirms Commitment to Farmers’ Welfare

President Joko “Jokowi” Widodo on Monday (04/22) inspected corn harvest in Boalemo regency, Gorontalo province. “Our corn import has decreased significantly from 3.5 million tonnes to…

Photo: Aris Nurjani/VOI

Rabu, 28 Februari 2024 - 12:47 WIB

Carsurin and NBRI Strengthen Strategic Alliance to Propel Indonesia’s EV Industry

PT Carsurin Tbk ("Carsurin") and the National Battery Research Institute ("NBRI") are pleased to announce the signing of a pivotal Strategic Alliance Agreement (SAA), marking a significant advancement…

Beras (Foto/Rizki Meirino)

Rabu, 21 Februari 2024 - 08:43 WIB

Gov’t to Continue Disbursing Rice Assistance

President Joko “Jokowi” Widodo has ensured that the Government will continue rolling out the rice assistance program for low-income families. The President made the statement when handing…