Request for Property in North Sumatra Still Lethargic

By : Ahmad Fadli And Aldi Firhand. A | Wednesday, May 16 2018 - 22:06 IWST

Residence Illustration
Residence Illustration

INDUSTRY.co.id - Jakarta - The development of property in North Sumatra (North Sumatra) is still slowing for middle to upper segmentation. This is the impact of the economic downturn that has not recovered to this day.

"The demand for property is still weak so business in that sector is still sluggish," said Tomi Wistan, one of the North Sumatra Chamber of Commerce and Industry (KADIN) in Medan. According to him, the decline in property business has entered the fifth year.

By 2017, entrepreneurs have predicted that property business will improve due to government policy in tax amnesty. But in fact, in 2017 the property business has not improved until last until 2018.

"The slowdown in the property sector is one of the contributors to the economic slowdown in Indonesia," he explains.

That, said Tomi, occurred due to the many relevant industry sectors that compete in the property sector.

This slowdown in demand, ultimately leads to a deficit in the number of unmet occupancy needs (backlog) is on the rise.

News Comment

Today's Industry

PT Mega Manunggal Property, Tbk (MMLP) plans to build three modern warehouses in Cikarang, Depok and an undetermined location. For this business expansion MMLP requires about Rp1 trillion. (Photo: INDUSTRY.co.id)

Kamis, 24 Mei 2018 - 23:37 WIB

Expansion, Mega Manunggal Property Will Build Three Modern Warehouses

PT Mega Manunggal Property, Tbk (MMLP) plans to build three modern warehouses in Cikarang, Depok and an undetermined location. For this business expansion MMLP requires about Rp1 trillion. The…

Mentan saksikan ekspor edamame

Kamis, 24 Mei 2018 - 23:30 WIB

Release Edamame Jember Exports to Japan, Minister of Agriculture: Easing Rules

Jember - Minister of Agriculture Andi Amran Sulaiman released edamame edamame exports to the Japanese market for 23,000 kg on Thursday (24/05). Total 9 thousand tons of edamame from Jember is…

Kopi Ilustrasi

Kamis, 24 Mei 2018 - 23:15 WIB

Indonesian Coffee Has Opportunity to Enter the Canadian Market

Jakarta - The government is eyeing the opportunity to increase Indonesian specialty coffee exports to the Canadian market, by organizing "Indonesian Specialty Coffee: From Farm to Cup in British…

Kementerian ESDM

Kamis, 24 Mei 2018 - 23:00 WIB

Ministry of ESDM Becomes Premium Customer of PT PLN 123th

Jakarta - To maintain the stability of electric power and avoid the occurrence of power outages, the Ministry of Energy and Mineral Resources (ESDM) increase customer class from regular to Premium.

Garuda Indonesia (Hariyanto/ INDUSTRY.co.id)

Kamis, 24 Mei 2018 - 22:55 WIB

Pelni-Garuda Indonesia Expands Cargo Delivery Outreach

PT Pelayaran Nasional Indonesia (Persero) and PT Garuda Indonesia (Persero) Tbk will expand the range of cargo shipping services between companies. With this partnership will further strengthen…