{"id":3147,"date":"2019-05-24T11:32:16","date_gmt":"2019-05-24T11:32:16","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=3147"},"modified":"2021-06-04T14:25:49","modified_gmt":"2021-06-04T07:25:49","slug":"jokowi-reelection-energises-indonesian-real-estate-sector","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/jokowi-reelection-energises-indonesian-real-estate-sector\/","title":{"rendered":"Jokowi reelection energises Indonesian real estate sector"},"content":{"rendered":"

Incumbent premier\u2019s final stab at the presidency snaps property stakeholders out of watchful waiting<\/p>\n

\"\"
President Joko Widodo at the opening of the Jakarta MRT in March 2019. Adolv Image\/Shutterstock<\/figcaption><\/figure>\n

President Joko \u2018Jokowi\u2019 Widodo\u2019s winning bid for another term at the Indonesian presidency has boosted market sentiment in the islands, CBRE reported.<\/p>\n

Triumphing over rival Prabowo Subianto, Widodo was officially proclaimed winner of April’s general elections on Tuesday. He will be inaugurated on 20 October.<\/p>\n

Jokowi’s victory is expected to result in the \u201cgreenlighting of real estate projects\u201d as investors look to capitalise on the continuation of his infrastructure spending schemes, especially in areas outside Jakarta, CBRE predicted.<\/p>\n

\u201cMost investors moved into wait-and-see mode well ahead of the election, meaning that market activity has been extremely limited for the past year,\u201d CBRE wrote in its report.<\/p>\n

\u201cHowever, recent months have seen an uptick in land banking, project planning and enquiries for en-bloc assets from local and foreign investors anticipating a Jokowi victory.\u201d<\/p>\n

More: 6 places to go in the Brooklyn of Bali<\/strong><\/a><\/p>\n

This will be Jokowi’s second and final term as president.<\/p>\n

The completion and development of major infrastructure projects has been a cornerstone of Jokowi\u2019s campaign. His administration spearheaded the opening of the country\u2019s first mass rapid transit (MRT) system in March, in addition to investments in highways, airports, seaports and railways across the archipelago.<\/p>\n

\u201cIt is hoped the MRT will alleviate the city\u2019s traffic gridlock as well as unlocking new areas for investment and development,\u201d CBRE said in a report.<\/p>\n

Jokowi has drawn some criticism over a move to levy taxes on luxury properties, but signs indicate that he will reform regulations related to higher-end homes, benefiting sales activity in upper-tier segments, noted CBRE analysts.<\/p>\n

Such measures, however, may not be introduced until 2020, pending the formation of a new administration in late 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

Second stab at the presidency snaps property stakeholders out of watchful waiting<\/p>\n","protected":false},"author":8,"featured_media":20079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[154,158],"class_list":["post-3147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-indonesia","tag-jakarta","news_country-indonesia","news_author-property-report"],"acf":[],"yoast_head":"\nJokowi reelection energises Indonesian real estate sector | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/jokowi-reelection-energises-indonesian-real-estate-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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