Foreign developers bet US$2.8b on Indonesian residential property
Easing of mortgage rules seen boosting demand for homes; developers target young couples
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Jakarta
FOREIGN property developers, led by China Communication Constructions Group (CCCG), made the biggest investment in Jakarta's residential property in nearly a decade this year as they bet on relaxed mortgage rules boosting demand.
CCCG's US$1 billion eight-tower complex is targeting young middle-income Indonesian couples and is one of the largest in the capital.
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