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Foreign developers bet US$2.8b on Indonesian residential property

Easing of mortgage rules seen boosting demand for homes; developers target young couples

Visitors at the sales office of a China Communications Construction Group unit in Cengkareng, West Jakarta, during the launch of the Daan Mogot City residential development on Dec 10.


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...

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