Transactions value at real estate expo reaches Rp9 billion

Medan, N Sumatra (Antara News) - Transactions made at the Real Estate Indonesia (REI) Expo which ran for six days here reached a total value of Rp9 billion and transactions expected to be concluded after the event Rp20 billion, a spokesperson said.

The transactions concerned units in 75 property projects offered by 20 developers from Medan, Batam and Jakarta and 16 auxiliary property companies which also took part in the exhibition, REI Expo committee chairman Fajri said here Monday.

The event which was held July 24-29 was also participated in by five banks and visited by over 2,500 people a day.

Meanwhile, Tajuddin Noer, chairman of the North Sumatra chapter of REI, said despite the sluggishness of the property market, people still had a big interest in it.

But district and municipal administrations in North Sumatra had not shown great commitment to low-cost housing development although over 60,000 such houses were needed every year.(*)
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