Based on the report in June 2021 named “Global Economic Prospects,” the World Bank forecast that the global economy in 2021 will grow by 5.6% after contracting at minus 3.5% in 2020 with the inflation at 3.9% from 2.5% in 2020. Specifically, the Indonesian economic growth in 2021 is estimated at 4.4... [read more]

PT Summarecon Agung Tbk, launches its latest commercial project with the groundbreaking of Summarecon Villagio Jakarta Luxury Outlet (SVJLO) in the Summarecon Emerald Karawang area. SVJLO is planned to be opened in 2022 as a fashion destination, comprising various international and local brands by a... [read more]

By the end of the first quarter of 2021, PT Pakuwon Jati Tbk (PWON) recorded its marketing sales at Rp 427 billion or accounting for 30.5% of its marketing sales target for 2021 of Rp 1.4 trillion. Based on its 31 March 2021 financial report, PQON recorded Rp 1.11 trillion in revenue or declining by... [read more]

The marketing sales of Ciputra International increased almost double in the second quarter of 2021 due to the Value Added Tax (VAT) incentive of 100% for ready stock properties priced at a maximum of Rp2 billion per unit which has been positively responded by consumers and property investors. Most o... [read more]

Since the implementation of Value Added Tax (PPN) Incentives, property sales were recorded with 10% to 20% growth in the March-May 2021 period. The increase was recorded for ready stock units, but not for pre-sale houses which recorded 4.9% sales decline. According to Real Estate Indonesia (REI), du... [read more]