The government estimated that the economic growth at the end of 2020 will be minus 1.1% to minus 0.2% while the 2021 State Budget Draft is estimated between 4.5% and 5.5%. In the second quarter of 2020, the Central Bureau of Statistics (BPS) reported that Indonesia’s economic growth was recorded at... [read more]

The government continues the plan to develop the North Bali Airport to support the tourism industry in Indonesia’s eastern region, serving up to 50 million passengers per year. Furthermore, the government will also integrate the western and eastern ports under one Project Management Official (PMO) t... [read more]

Five State Owned Enterprises (BUMN) signed a Memorandum of Understanding to consolidate their hotel businesses, including PT Garuda Indonesia (Persero), PT Hotel Indonesia Natour (Persero), PT Pertamina (Persero), PT Wijaya Karya (Persero) and PT Pegadaian (Persero) which comprises 22 hotel units an... [read more]

PT PP Properti Tbk. (PPRO) is completing its projects and there will be seven projects to be handed over in the fourth quarter of 2020. By the second half of 2020, PPRO recorded Rp366 billion in marketing sales, or declining by 61.26% from Rp945 billion in the same period last year. This year, PPRO... [read more]

Jababeka Residence, an integrated residential and commercial area by PT Grahabuana Cikarang, a subsidiary of PT Jababeka Tbk., launched the Cluster Rotterdam in July 2020 and it was sold out in the initial marketing phase. The cluster is located near the TOD Center of Jababeka with the concept of Mo... [read more]