The Central Bureau of Statistics recorded that foreign tourist visits to Indonesia in January 2021 declined to 141,300 visits. Compared to December 2020, the number declined by 13.9% month to month and compared to January 2020 prior to Covid-19 pandemic, it declined by 89.05% year on year. [read more]

The government provides tax holiday for tax added value (PPN) on houses with the maximum price of Rp2 billion. This incentive which is included in the 2021 National Economic Recovery (PEN) program is limited for landed and vertical residentials. The government also provide 50% reduction on PPN for r... [read more]

The development of Lavaya Residence & Resort, a premium resort and residential project from Gandaland, has progressed by 85%. The handover is expected to start by the end of this year. It is one of Gandaland’s commercial projects in Tanjung Benoa, Bali. Lavaya Residence & Resort offers a 5-story low... [read more]

PT Mitra Sindo Sukses, a subsidary of PT Modernland Realty Tbk., accelerates the construction and sale of Cleon Park Apartment, its first apartment project in Jakarta Garden City, East Jakarta. The construction of Cleon Park Apartment was started on 23rd September 2020 and it is planned to be handed... [read more]

Sinarmas Land Limited has acquired three property entities based in Indonesia with the total value of Rp347.77 billion. The three entities comprising PT Bumindo Repenas Jayautama (BRJ), PT Cibubur Permai Lestari (CPL) and PT Gunung Indah Permai Lestari (GIPL). By the end of September 2020, the net a... [read more]