Jakarta –
PT State Savings Bank (Persero) Tbk will explore cooperation with several Japanese property companies. During the recent visit by BUMN Minister Erick Thohir to Japan, Indonesia and Japan will develop cooperation in housing development and financing in Indonesia, especially to cater to the younger or millennial generation.
“This is a focus in developing cooperation between the Indonesian government and Japan to support the property sector in Indonesia and we are ready to cooperate which is expected to be realized in 2021. We welcome the plan positively and we will provide support so that this cooperation can be realized soon. “said BTN President Director Pahala N Mansury in his statement on Sunday (11/8/2020).
There are several Japanese property companies that will be invited to cooperate. The companies include Panasonic Home. Then there is also another property developer from Japan who collaborates with Perumnas, namely IIDA Group Holding Indonesia (IGHD-Ind).
In addition to Japanese property companies, Bank BTN will also explore long-term funding cooperation for property financing with the Japan Bank for International Cooperation or JBIC. We hope that the collaboration with JBIC can encourage the expansion of Bank BTN property financing.
Pahala explained, Bank BTN and JBIC are still negotiating a number of important points and will be finalized soon. These important points include the loan amount that JBIC will provide to Bank BTN, loan interest rates and financing distribution.
Long-term loans as BTN’s companion funds in housing finance are unrevolving or non-revolving schemes. All loans in USD will be swapped into IDR to make it more efficient for Bank BTN.
“We are still discussing whether the JBIC loan is for construction loans for property projects of a number of Japanese developers who will collaborate with state-owned property companies in Indonesia, or will be disbursed in the form of KPR or KPA which will be disbursed by Bank BTN to consumers who buy property projects in collaboration with Indonesian state-owned property companies. Japanese developer, “said Pahala.
For property construction loans, the loan funds are expected to flow to housing projects targeting the upper middle segment or transit oriented development or TOD property projects built by property SOEs such as PT Wijaya Karya (Persero) Tbk, PT PP Properti and Perumnas together with PT. KAI. Meanwhile, the Japanese developer who is currently discussing cooperation with the state-owned property above is Daiwa House Industry Co Ltd.
“The amount of loans and disbursement of funds from JBIC will be determined after an agreement is made between BUMN property and Daiwa House or what we hope to achieve in 2021,” said Pahala.
(acd/dna)
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