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View all search resultsDanantara readies up to $1b to develop subsidized housing in Meikarta
Despite being framed as a corporate contribution to support public housing, analysts pointed out that transfers of strategic urban land to the state are rarely neutral in economic terms.
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Lippo Group founder James Riady (right) gestures as he walks with Danantara CEO Rosan Roeslani (second right), Housing and Settlements Minister Maruarar “Ara” Sirait (second left) and Hashim Djojohadikusumo (left), chairman of the government’s public housing task force, during a land grant handover ceremony on March 8 in Cikarang, West Java.
(Courtesy of/Danantara)
S
tate asset fund Danantara is preparing up to Rp 16 trillion (US$1 billion) in financing for a vertical housing project in Cikarang, West Java, as part of President Prabowo Subianto’s flagship 3 million homes program.
The project will be developed on about 30 hectares of land donated by local conglomerate Lippo Group and is expected to accommodate roughly 140,000 apartment units for low-income households.
Danantara CEO Rosan Roeslani said the fund would fully support financing for the development, citing “constant strong supply and demand” for affordable housing.
“Through collaboration between the government, Danantara, state-owned enterprises and the private sector, we want to ensure the housing project is carefully planned, from the development concept and pricing mechanism to the ownership scheme for residents,” Rosan said in a statement on Monday.
“This way the project can genuinely provide decent and affordable housing access for low-income communities.”
Read also: Ministry proposes Bulog-like offtake agency for subsidized housing
The first phase of development will cover about 12.8 hectares, with plans to build around 18 residential towers equipped with facilities including schools, clinics, parks and sports facilities.
