The Ministry of Finance Sri Mulyani Indrawati projects that national economy in the first quarter of 2021 will range between minus 1% and 0.1% (yoy). Despite the annual contraction, this projection indicates a recovery from minus 2.19% yoy in the fourth quarter of 2020. [read more]

PT Intiland Development Tbk. (Intiland) has started the development of Tierra project, a new integrated develpment in the Segi Delapan Area, West Surabaya to anticipate the recovering property marketo. The mixed-use and high rise development resides on a total land area of 7.5 hectares and it integr... [read more]

The consortium of PT Angkasa Pura I (Persero), Incheon International Airport Corporation (IIAC) and PT Wijaya Karya (Persero) Tbk. plans to develop Hang Nadim Airport, Batam into a domestic and international cargo hub and the transit alternative for national airlines to explore specific cargo route... [read more]

Central Bank of Indonesia has decided to maintain the key interest rate at 3.5%, the lowest since the Seven-Day Reverse Repo Rate (7DRRR) was introduced in 2016, to protect the Rupiah exchange rate amid market uncertainty. BI also kept the deposit facility rate at 2.75% and the lending facility rate... [read more]

Despite the on-going Covid-19, mortgage (KPR) application has shown signs of recovery. As of January 2021, the Central Bank of Indonesia (BI) recorded that KPR has grown 3.6% annually (yoy) to Rp521,2 trillion driven by banks who gradually cut mortgage interest rates and provide various promotions. [read more]