Indonesia builders' US$ bonds outperform despite slowing economy
Their debt has returned an average 5.4% this year, while paper in other industries has lost 0.3%
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WHAT could be nicer than your own beachside villa in Bali boasting a plunge pool, ocean views and personal chauffeur? For some, owning the debt that built it.
Dollar-denominated bonds of Indonesian developers, including those building luxury projects on its main resort island, are outperforming. Property firms have issued almost half of ex-government dollar notes outstanding in the nation as they bypass local lending curbs, Bloomberg-compiled data show. Their debt has returned an average 5.4 per cent this year, while paper in other industries has lost 0.3 per cent.
