Jakarta, Indonesia Sentinel — Indonesia’s president-elect, Prabowo Subianto, has unveiled a bold plan to build 15 million homes over his five-year term from 2024 to 2029. The ambitious housing initiative will aim to deliver 3 million homes annually, significantly surpassing previous projections.
The plan was announced by Hashim Djojohadikusumo, Chair of the Housing Task Force, during the Executive Dialogue Propertinomic Real Estate Indonesia (REI) event in Jakarta on October 10, 2024.
“We initially thought about building 3 million homes over the full term, but now we’re aiming for 3 million a year, making it 15 million in five years. If Prabowo serves two terms, that could mean 30 million homes,” Hashim explained.
He emphasized the ambitious nature of the project, noting that even if they fall short of the goal and only achieve 11 million homes, it would still be a significant success. However, the goal remains to surpass expectations and potentially deliver 16 million units. The houses will be built in both urban and rural areas, ensuring that the development spreads across Indonesia.
In support of this effort, several countries have expressed interest in contributing to the project. Hashim revealed that Qatar and China are among those looking to invest in building new homes. A Qatari company, connected to the Al Thani royal family, has proposed constructing 1 million urban housing units. The key condition is that the project should not incur significant losses, with only modest profits allowed.
“This is viewed as an act of philanthropy for them, but they don’t want to lose money. A small profit is acceptable,” Hashim said.
In addition to Qatar, China’s massive construction conglomerate, China State Construction Engineering Corporation (CSCEC), has also expressed a desire to participate. Hashim noted that CSCEC, which ranks among the Fortune 500 and employs over 380,000 people, has already built nearly 880,000 apartment units in the previous year alone. The company is confident in its ability to build the 1 million homes requested for the project in Indonesia.
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This collaboration with international partners like Qatar and China could prove essential for achieving Prabowo’s ambitious housing goal. The partnerships bring not only financial backing but also expertise in large-scale construction projects.
With an increasing demand for affordable housing in Indonesia, Prabowo’s plan aims to address the housing shortage in the country, helping millions of citizens secure homes. By involving global players, the program seeks to enhance Indonesia’s infrastructure while fostering economic growth through construction and real estate development.
(Becky)
