The 10th PropertyGuru Indonesia Property Awards anticipate positive growth in property sector during landmark year

Industry leaders predict upturns for sector ahead of landmark 10th edition of the awards, unveiling new categories to celebrate the nation’s finest real estate

JAKARTA, Indonesia — Leading figures in the Indonesian real estate sector are offering optimistic projections as the industry gears up to commemorate the 10th edition of the PropertyGuru Indonesia Property Awards in 2024.

Prospects for Indonesian property have potential for improvement as the market stands to benefit from a range of proposed changes, according to experts gathered today at The Westin Jakarta for the Indonesia CEO & Leaders Forum 2024.

The event, organised by PropertyGuru Asia Property Awards with the support of PropertyKlik.com, discussed various initiatives expected to impact the sector, from new monetary policies to public housing strategies.

The Indonesia CEO & Leaders Forum 2024 builds anticipation for the black-tie gala dinner and presentation ceremony of the 10th Annual PropertyGuru Indonesia Property Awards, presented by Kohler and supported by official partner, PropertyKlik.com, which will provide publicity for the event and the awardees targeting property seekers.

The most prestigious event on Indonesia’s real estate calendar is set for Friday, 23 August 2024 at The Ritz-Carlton Jakarta, Pacific Place, the official venue. Submissions from the industry and the public are now accepted via asiapropertyawards.com until 31 May 2024.

Key dates for the 2024 edition:
31 May 2024 – Entries close
17 June – 19 July 2024 – Site Inspections
23 July 2024 – Final Judging
23 August 2024 – Gala Dinner and Awards Ceremony in Jakarta, Indonesia
13 December 2024 – Regional Grand Final Gala Presentation in Bangkok, Thailand

A significant year for Indonesia

The 10th edition of the awards comes in a potentially significant year for Indonesian housing. Following a decisive election year, the new administration has unveiled ambitious plans to build three million homes across the archipelago, aimed at addressing housing needs in rural, urban, and coastal regions.

Prior to the February election, the previous government had unveiled a raft of measures expected to revive the residential sector, including new breaks for property purchases and the long-awaited loosening of requirements for foreign property buyers.

The market also gained some uplift last year from the completion of large-scale infrastructure projects such as Whoosh, the first high-speed train in Southeast Asia.

Agrarian reforms are also poised to have a beneficial impact on the property sector. Dr. Dalu Agung Darmawan, M.Si, director general of agrarian management, Ministry of Agrarian Affairs and Spatial Planning​ of the Republic of Indonesia, said: “To support the growth of the property sector in Indonesia, especially during the 2045 demographic bonus, the Ministry of Agrarian Affairs and Spatial Planning / National Land Agency plans to carry out ‘agrarian reform’ which aims to narrow inequality in property ownership, encouraging socio-economic equality among society as a whole.”

Dr. Darmawan was joined at the forum by a high-level roster of speakers including Ir. Fitrah Nur, M.Si, director of public and commercial homes, Ministry of Public Works and Housing of the Republic of Indonesia; Ignesjz Kemalawarta, chief for strategic research, DPP REI at Real Estate Indonesia; Jules Kay, general manager of PropertyGuru Asia Property Awards and Events; ⁠and Vivin Harsanto, chairperson of the panel of judges of the PropertyGuru Indonesia Property Awards and senior director and head of advisory of JLL Indonesia. The forum was moderated by Marine Novita, chief executive officer of PropertyKlik.com, the official partner.

A one-stop solution for selling, buying, and renting real estate, PropertyKlik.com aims to help Indonesians achieve their dream homes and make the right property decisions through information, guidance, and technology.

Biggest, boldest achievers

To mark the 10th edition, the PropertyGuru Indonesia Property Awards diversify this year with new categories, rewarding more of the biggest and boldest achievers in the real estate industry.

The new edition aims to recognise achievements across more than 80 categories, spanning outstanding enterprises, designs, and projects from Jabodetabek to Greater Indonesia. The expansion of categories comes at a transformative time for the property sector.

The 2024 Awards include the all-new ESG categories, honouring developers that champion sustainable design, sustainable construction, energy efficiency, and social impact.

Related: Indonesia’s bid to revitalise real estate

The newly expanded roster of categories also includes an honour for the country’s finest international partner developer. Other new categories honour the country’s finest mega-township projects, investment properties, nature-integrated developments, serviced offices, and sales galleries.

Jules Kay said: “We proudly open the landmark 10th edition of the PropertyGuru Indonesia Property Awards as this nation of 274 million potential property seekers enters an era of transformation and transition. Commemorating a decade of excellence in Indonesian real estate, we anticipate a dynamic future for the archipelago on the back of initiatives and incentives to stimulate its property market. As economic recovery accelerates alongside unprecedented transport expansions and relaxed visa policies, we look forward to showcasing Indonesia’s diverse and appealing real estate from Jakarta to Bali this year.”

Industry luminaries

The winners of the 2024 Awards are determined by an independent panel of judges, composed of luminaries in the property sector and related fields.

Vivin Harsanto said: “We invite great developers out there to showcase the strength and stability of the Indonesian property market alongside the latest edition of our Awards. Encouraged by an active industrial property segment, strong sentiment for landed homes, and beneficial infrastructural projects, we maintain an optimistic outlook in a full recovery of Indonesia’s property market, with our resilient award winners ultimately forging the way forward to growth.”

The professionally run, fully transparent selection process is impartial, fair, and credible, thanks to the supervision of HLB Hadori Sugiarto Adi & Rekan – HLB Indonesia.

Top winners from the PropertyGuru Indonesia Property Awards qualify to compete with their peers across Asia Pacific at the PropertyGuru Asia Property Awards Grand Final in December 2024.

Developers from Indonesia gained eight regional wins, the most of any country, from the 18th PropertyGuru Asia Property Awards Grand Final 2023. The Best Breakthrough Developer (Asia) title was awarded to PT Sinar Mitbana Mas, with parent company Sinar Mas Land and subsidiary PT. BSD Diamond Development also receiving regional wins. Various projects by Agung Sedayu Group & Salim Group; Summarecon Agung; and Summarecon Serpong received wins on behalf of Indonesia.

The PropertyGuru Indonesia Property Awards are part of the regional PropertyGuru Asia Property Awards series, which marks its 19th year in 2024. The series covers key markets across the region, spanning Southeast Asia, East Asia, South Asia, and Oceania, with exclusive gala dinners and ceremonies that represent the most anticipated property events of the year.

Organised by PropertyGuru Group (NYSE:PGRU), the 10th PropertyGuru Indonesia Property Awards are presented by platinum sponsor Kohler; official partner PropertyKlik.com; official magazine Property Report by PropertyGuru; official publicity partner Publicom Communications; media partners Detik.com, Kompas.com, and Top 10 Indonesia; and official supervisor HLB.

For more information, email [email protected] or visit the official website: asiapropertyawards.com.