Foreign investors wish to build low-cost apartments

Yogyakarta (Antara News) - Several foreign investors have become interested in investment in low-cost apartments for rent to be built in various regions in Indonesia, Housing Affairs Minister Yusuf Asyari said here on Sunday.

"Several foreign investors have already come to Indonesia, including from Malaysia and the Middle East, while others are still in the process," he said at the completion of the "Elnusa" integrated village restoration program.

He hoped the investors would cooperate with local companies who knew much better about the regulations governing such project.

He hoped the foreign investors would build big apartment buildings with up to storeys.

He said several apartment buildings have already been built in some cities for students to rent such as in Medan, Batam, Padang and in cities in Java.

He said these storeyed apartments would be built in densely-populated areas as people who have large plots of land, appear to prefer living in ordinary houses.

He said the land for the construction of apartments for rest may belong to local administrations or state-owned companies.(*)
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