Crown Group records significant growth in sales during February 2020 due to the exchange rate appreciation of Australian dollar that prompt foreign purchases to Rp130 billion. In early March, ARC Penthouse by Crown Group and Pyrmont Bay were sold at Rp55 billion. The recently completed Infinity by C... [read more]

In respond the outbreak of Covid-19, the Central Bank of Indonesia (BI) cut the interest rate to 4.5% and revised Indonesia’s economic growth from 5%-5.4% to 4.2%-4.6%. The interest rate cut has no significant effect to the property industry because technically, marketing activities are hindered by... [read more]

The government will begin the construction of the new capital city in East Kalimantan in October this year. The first infrastructure to be constructed after the groundbreaking is road access to the capital city, dams and drainage system. [read more]

The COVID-19 coronavirus has hit the hotel industry hard with occupancy rates well down on the seasonal average across Indonesia. The overall occupancy rate had fallen below the regular low season average of 50% to 60% to 30% to 40% since the outbreak of the coronavirus in China in early January. Pr... [read more]

The Central Bank of Indonesia (BI) cut the projection of Indonesia’s economic growth to the range of 4.2% to 4.6%, from previously 5.0% and 5.4% range. This is the second revision after the revision from 5.1% to 5.5%. [read more]