After several years of stagnation, the domestic property market has started to pick up over the past year. Large-scale projects are appearing in the commercial and residential property sectors. Interestingly, foreign investors from Japan and China are behind these projects.
Meikarta – Lippo Group’s integrated township megaproject in Cikarang – has been in the spotlight since the middle of last year. Lippo Group President Theo Sambuaga said the investment value for Meikarta was Rp 278 trillion. The company’s global partners in this project are Mitsubishi Corporation, Toyota, Sanko Soflan, and a number of Chinese investors.