Due to the Covid-19 pandemic, PT Adhi Commuter Properti (ACP) recorded approximately Rp100 billion in marketing sales in the first quarter of 2020 from its vertical housing projects and thus dominated by the sales of its apartment units. The largest contributors were Cisauk Point – member of LRC Cit... [read more]

The homegrown hotel aggregator start-up named Airy will cease operations by the end of May as the Covid-19 pandemic hits the hospitality business. The hospitality and travel sectors have been the hardest hit by the pandemic, forcing more than 700 hotels in Indonesia to close as physical distancing a... [read more]

The Coordinating Investment Board (BKPM) reports that the foreign investment in the first quarter of 2020, the residential, industrial estate and office sector was realized with 490 projects worth US$602.9 million or equal to Rp9 trillion at Rp14,948 rate. While domestic investment realization in th... [read more]

Mall business owners through the Indonesia Shopping Center Association (APPBI) revealed that they have not received any incentives from the government, following the temporary operational close down due to Covid-19 despite requesting it to the government via ministries, local government and PT PLN.... [read more]

The Central Bureau of Statistics (BPS) reported Indonesia’s economic growth in the first quarter of 2020 reaching 2.97% year-on-year (YOY) and -2.41% compared to the fourth quarter of 2019, the lowest since the fourth quarter of 2001. Previously, the government projected economic growth in the first... [read more]