Transformative changes to post-pandemic Indonesia analysed in new virtual media roundtable

PropertyGuru Indonesia Property Awards host industry leaders for webinar on the property market’s prospects in the aftermath of the pandemic

• The Zoom conference, entitled ‘Indonesia & Asia in Transition: Post-Pandemic and Beyond’, featured messages from the Coordinating Minister for the Economic Affairs, and the Deputy Minister for Regional Development and Spatial Planning Coordination
• The online session was organised in partnership with KADIN, the Indonesian Chamber of Commerce and Industry
• Primary discussion centred on recovery from Covid-19; learnings from China’s reopening and cross-border investments in Indonesia; the omnibus bills; and other legislative changes anticipated by the nation

JAKARTA, Indonesia –– 29 July 2020

Some of the foremost business network leaders, analysts, and proptech experts from around Asia-Pacific convened remotely Wednesday for a virtual media roundtable examining the state and outlook of the Indonesian property sector, in light of the pandemic as well as the many upcoming legislations, policies, and mooted catalysts for change in the country.

The media roundtable, dubbed “Indonesia & Asia in Transition: Post-Pandemic and Beyond”, was presented in association with KADIN (Indonesian Chamber of Commerce and Industry) on 29 July 2020 at 10:30am-12pm JKT (11:30am-1pm SG, SH). Members of the media, property leaders, and the public were invited to attend the session, which aired live via Zoom.

The discussion centred on the prospect of real estate and economic recovery in Indonesia from the repercussions of the Covid-19 pandemic, as well as the current and mid-term outlook for the market. It was supplemented by takeaways from China’s reopening weeks ago and insights on Chinese cross-border investment into the country. The session also touched on the omnibus bills, their projected effect on ease of doing business, and other legislative changes poised to reinvigorate the property sector in the archipelago.

Speakers at the virtual media roundtable were:

• Airlangga Hartarto, Coordinating Minister for the Economic Affairs, Republic of Indonesia
• Wahyu Utomo, MS, Deputy Minister for Regional Development and Spatial Planning Coordination
• Seytono “Dujandi” Darmono, Founder & Chairman, Jababeka
• Budiarsa Sastrawinata, Chair of the Permanent Committee for Investment, Development & Foreign Relations, KADIN Property / Managing Director, Ciputra Group
• Doddy A. Tjahjadi, Chief Executive Officer, PTI Architects / Chairperson of the Judges, PropertyGuru Indonesia Property Awards
• Hendro S. Gondokusumo, Deputy Chairman, KADIN Property
• James Macdonald, Head of Research, Savills China
• Winston Lee, Director of Special Projects, PropertyGuru
• Marine Novita, Country Manager, Rumah.com

The session began with a message from Marine Novita, country manager for Rumah.com, PropertyGuru Group’s local brand and Indonesia’s leading property website. It was followed by welcome addresses by Doddy A. Tjahjadi, chairperson of the Judges, PropertyGuru Indonesia Property Awards; Hendro S. Gondokusumo, winner of the 2018 Indonesia Real Estate Personality of the Year Award; and Budiarsa Sastrawinata, winner of the 2019 Indonesia Real Estate Personality of the Year Award.

Gondokusumo earlier said: “In this pandemic situation, we need to bravely step ahead of the changes. No one can predict when it will end. That is why any positive gesture from the government is needed in order to push the economy. Since the property industry can trigger other 175 supporting industries, it is very crucial for the government to pay attention to this sector, including one of which is the omnibus law.”

He continued: “The omnibus laws and other highly anticipated policies should mark a turning point for the Indonesian property sector through the next year and the rest of the decade. KADIN is prepared to embrace these paradigm shifts gracefully and help companies forge resilient paths ahead as the new regulatory framework, if it is carried out well, will make us rethink the way we do business in Indonesia forever.”

Before the panel discussion on the state and recovery of the property market, two keynote speeches were delivered by Airlangga Hartarto, Coordinating Minister for the Economic Affairs, Republic of Indonesia; and Dr. Wahyu Utomo, MS, Deputy Minister for Regional Development and Spatial Planning Coordination.

“Indonesia & Asia in Transition: Post-Pandemic and Beyond” is a prelude to this year’s PropertyGuru Indonesia Property Awards, which will be adopting a digital format for its sixth edition. This year’s Winners and Highly Commended recipients will be honoured at the virtual red carpet and virtual gala dinner of the 2020 PropertyGuru Indonesia Property Awards, which will be live streamed on asiapropertyawards.com/en/newsroom/ and partner channels on 5 November.

Jules Kay, managing director of the PropertyGuru Asia Property Awards and Events, remarked: “Regulatory reform will undoubtedly serve as a catalyst for transformative change in Indonesia, which remains one of the PropertyGuru Asia Property Awards’ standout real estate markets despite the challenges of the global health crisis. Lessons gleaned from market experts and thought leaders during this virtual gathering will equip investors, developers, architects and other industry professionals with actionable learnings as the Indonesian property market prepares for a strong and swift recovery.”

The new cycle of the PropertyGuru Indonesia Property Awards comes amid long-term projections for economic progress in the archipelago. Doddy A. Tjahjadi said, “Economic growth in Indonesia has been steady for the past 10 years. Indonesia before long will become one of the top 10 largest economies in the world.”

Alongside a central panel of industry veterans and established experts, Tjahjadi will be leading in-depth meetings and site inspections of entries in competition, with the thorough supervision of BDO, one of the largest auditors and accounting firms in the world. Under the leadership of Indrotjahjono S., partner for valuation services with BDO Indonesia, the firm will ensure the fairness and transparency of the 6th PropertyGuru Indonesia Property Awards, which has been reputed for its strict, ethical and unbiased criteria.

The general public are still encouraged to submit their nominations online until 28 August 2020 via asiapropertyawards.com/nominations, whilst entries will be accepted until 11 September.

The 6th Annual PropertyGuru Indonesia Property Awards is supported by platinum sponsor Kohler; official supervisor BDO; official magazine PropertyGuru Property Report; official charity partner Right to Play; official PR partner Dreamhub Consultants; and official portal partner Rumah.com, which will support and promote the recipients of this year’s Indonesia Property Awards through its extensive consumer and agent network.

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

Here’s a replay of the virtual roundtable: