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Acquire finance support, foreigners target four of PPRO apartment projects

26 August 2019 16:46

JAKARTA - PT PP Properti Tbk (PPRO) claimed four of its apartments were being targeted by foreign investors, after the Indonesian Government reduced the house and occupancy tax to 1%.

Taufik Hidayat, Director of PPRO, said that foreign investors' interest in the company's projects was also supported with the complete of Presidential Election. "These investors have been clarifying since the beginning of the year and have delayed the execution, due to the Presidential Election process," said Hidayat, on Monday (8/26) today.

In addition, Hidayat believes the property tax and luxury residence that cut to 1% will be an attraction for investors. He also assessed that the performance of the property industry in the second half of this year will be passionate again. The four of PPRO projects are Grand Shamaya Tower 3 Apartment, Grand Sungkono Tower 5 Apartment, Grand Kamala Lagoon Tower Kamala Kandara Apartment, and Mazhoji Depok Tower MA Apartment.

Hidayat added that a number of potential investors had signed an initial agreement in Non Disclosure Agreement (NDA) and Memorandum of Understanding (MoU). But he was reluctant to mention the name of investors who have the potential to become strategic partners. "In fact there are already those who are in the negotiation stage," explained Hidayat. (KR/W)

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