Jakarta, Indonesia Sentinel — The Meikarta property controversy is back in the spotlight as consumers report losses totaling up to Rp6.8 billion (approximately $425,000). PT Lippo Cikarang Tbk. (LPCK), the parent company of the project’s main developer, has finally broken its silence.
Peter Adrian, Corporate Secretary of LPCK, stated that PT Mahkota Sentosa Utama (MSU)—a subsidiary of Lippo Cikarang and the primary developer of Meikarta—has begun the handover of completed apartment units to buyers. He claimed that as of March 2025, over 60% of the units had been constructed, with the overall project reaching 75% completion.
“MSU remains committed to fulfilling all its obligations, including construction and unit handovers, in line with the homologation agreement that is now legally binding,” Peter said in a disclosure to the Indonesia Stock Exchange on Tuesday, April 22, 2024.
According to him, the construction of the remaining units is ongoing, and handovers are scheduled to continue gradually until July 2027, targeting around 7,000 units. Progress reports, including outstanding obligations, will be updated periodically in accordance with the court-approved restructuring plan.
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Meanwhile, consumers have taken their complaints directly to the Minister of Housing and Settlements, Maruarar Sirait. Many expressed frustration over delayed unit handovers and the lack of communication from Meikarta’s customer service.
One buyer, Tresna, said she has been waiting for over five years for her apartment, which was supposed to be handed over in 2019. Despite this, she continues to pay her mortgage every month to avoid damaging her credit score with Indonesia’s financial authority, known as BI Checking.
“I’ve paid every month because if I don’t, my BI Checking score will suffer. I was once a bit late and immediately received a call from the bank,” she told the minister during a visit to the PKP office in Jakarta on April 21, 2025.
Tresna said she tried to restructure her loan due to maternity leave but was initially rejected. Only on her second attempt did the bank approve it. So far, she has paid around Rp680 million for a 70-square-meter unit priced at Rp480 million with a 10-year term. Despite her commitment, she has not been allowed to inspect the unit.
“I just want my money back. I no longer trust Meikarta,” she added firmly.
Another buyer, who began paying installments in late 2017, has also not received their unit. Although the handover was promised in 2019, they continue to pay Rp2.5 million monthly to avoid credit repercussions.
Some buyers have even completed full payments years ago and still received nothing. One consumer said they paid in full in 2017 and were promised their unit by 2019, but to date, no progress has been made.
“I visit Meikarta every month, but there’s still no update,” they said.
Minister Maruarar Sirait has pledged to pursue a resolution to the issue and stated that President Prabowo Subianto has personally instructed him to resolve the matter in accordance with the law.
“The President is committed to upholding the rights of the people. I’ve reported this to him, and he has asked me to handle it,” Sirait said.
The Meikarta case, which once symbolized ambitious urban development in Indonesia, has now become a cautionary tale about consumer protection, corporate accountability, and the long wait for justice faced by thousands of property buyers.
(Raya)
