Property News · September 2, 2019

Indonesian developers want government to curb land speculation around country’s new capital


Indonesia’s plan to build a US$33 billion new capital from scratch on the island of Borneo has sent real-estate developers scrambling for land in the vicinity of the proposed city. And the industry’s representative body says that is already pushing up prices.The Association of Indonesian Real Estate Companies, which has more than 5,000 member companies, wants President Joko Widodo to take steps to rein in those seeking to profit from the soaring demand in East Kalimantan. Chairman Soelaeman…

Source : South China Morning Post
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