印尼房地产行业市场前景及投资研究报告-培训课件外文版2024.5印度尼西亚恒大碧桂园万达万科

INDUSTRIES

&

MARKETSRealestateinIndonesiaCHAPTER

01OverviewGrossdomesticproduct(GDP)fromrealestateactivitiesinIndonesiafrom2014to2022(intrillionIndonesianrupiah)GDPfromrealestateactivitiesIndonesia2014-2022600488.31500468.22453.78439.46406.01382.264003002001000350.49327.6294.5720142015201620172018201920202021*2022**3Description:In2022,preliminaryfiguresshowedthatthegrossdomesticproduct(GDP)fromrealestateactivitiesinIndonesiaamountedtoapproximately488.31trillionIndonesianrupiah.IndonesianGDPderivedfromrealestateactivitieshasgraduallyincreasedsince2014.ReadmoreNote(s):Indonesia;2014to2022;atcurrentmarketprices;*Preliminaryfigures.**Verypreliminaryfigures.OnethousandIndonesianrupiahisequalto0.07U.S.dollarsand0.06eurosasofJuly2023.Figureshavebeenrounded.Figurespriorto[...]

ReadmoreSource(s):StatisticsIndonesiaShareofhouseholdslivinginaresidentialunitinIndonesiain2022,bytypeofownershipShareofhouseholdslivinginaresidentialunitIndonesia2022,bytypeofownershipShareofhouseholds40%0%10%20%30%50%60%70%80%90%OwnedpropertyRentalorlease83.99%6.13%Rent-freeproperty*Officialresidence**9.08%0.8%Others

0.01%4Description:Asof2022,nearly84percentofIndonesianhouseholdsresidedinahousingunittheyowned.Incomparison,onlyaboutsixpercentofhouseholdsinIndonesialivedinarentalunit.Ingeneral,theownershiprateofahousingunitinIndonesiahasgrowninthepastfewyears.ReadmoreNote(s):Indonesia;2022;*Rent-freepropertyisaresidentialpropertywheretheoccupantsdonotpayrent,includinglivinginahousingunitownedbyafamilymember,parents,orothernon-relativeparty.**Officialresidenceiscommonlyknown[...]

ReadmoreSource(s):StatisticsIndonesiaShareofhouseholdswhoownedthehousingunittheylivedininIndonesiafrom2018to2022,byareaHomeownershipofhouseholdsinIndonesia2018-2022,byareaUrbanareaRuralarea90.35%100%91.76%90.53%90.75%89.76%90%80%70%60%50%40%30%20%10%0%78.31%73.73%71.96%71.85%72.04%201820192020202120225Description:In2022,approximately78.31percentofurbanhouseholdsinIndonesialivedinahousingunitthattheyowned.Meanwhile,around91.76percentofhouseholdsinruralareasownedtheirhouse.Theshareofruralhouseholdslivingintheirownhousingunithasgenerallyremainedconstantinthepastfewyears.ReadmoreNote(s):Indonesia;2018to2022Source(s):StatisticsIndonesiaNumberofhouseholdthataresupposedtoownahouseinIndonesiafrom2010to2023(inmillions)NumberofhouseunitbackloginIndonesia2010-20231613.5141210812.711.4611642020102015202220236Description:Asof2023,Indonesiahadabacklogofabout12.7millionhousingunits,reflectingthenumberofIndonesianhouseholdsleftwhichweresupposedtoownahouseinthecountry.Tolowerthisnumber,theIndonesiangovernmentlaunchedthe"OneMillionHouses"program(ProgramSejutaRumah)aimingtobuildonemillionhouseseachyear.Atthesametime,thehousingdemandwasexpectedtokeepgrowingduetorisingurbanizationandpopulationgrowth.ReadmoreNote(s):Indonesia;2010to2023Source(s):KementerianPUPR;Perkim.idAveragemortgageratesinIndonesiafrom1stquarter2020to2ndquarter2023AveragemortgageratesIndonesiaQ12020-Q220239.1%8.92%8.85%8.9%8.7%8.5%8.3%8.1%7.9%7.7%7.5%8.63%8.55%8.5%8.44%8.34%8.34%8.2%8.11%7.98%7.98%7.8%7.74%Q12020

Q22020

Q32020

Q42020

Q12021

Q22021

Q32021

Q42021

Q12022

Q22022

Q32022

Q42022

Q12023

Q220237Description:Inthesecondquarterof2023,theaveragemortgagerate(sukubungaKPR)inIndonesiawasat8.34percent.Overtheobservedperiod,thelowestaveragemortgageratehappenedinthefirstquarterof2023,at7.74percent.

ReadmoreNote(s):Indonesia;Q12020toQ22023Source(s):BankIndonesiaCHAPTER

02SalesandfinancingYear-on-year(YoY)residentialpropertysalesgrowthinIndonesiafrom1stquarter2020to2ndquarter2023YoYresidentialpropertysalesgrowthIndonesiaQ12020-Q2202320%15.23%13.95%13.58%10%0%4.54%-8.26%-10.01%-10.11%-11.6%-12.3%-10%-20%-30%-40%-50%-15.19%-20.59%-25.6%-30.93%-43.19%Q12020

Q22020

Q32020

Q42020

Q12021

Q22021

Q32021

Q42021

Q12022

Q22022

Q32022

Q42022

Q12023

Q220239/statistics/1246728/indonesia-yoy-property-sales-growthInthesecondquarterof2023,theoverallresidentialpropertysalesinIndonesiadecreasedby12.3percent.Amongthreehousingtypes(small,medium,andbighouses),thesalesforsmallhousesinIndonesiahadthemostsignificantoveralldecline.ReadmoreNote(s):Indonesia;Q12020toQ22023Source(s):BankIndonesiaYear-on-year(YoY)propertysalesgrowthforsmallhousesinIndonesiafrom1stquarter2020to2ndquarter2023YoYpropertysalesgrowthforsmallhousesIndonesiaQ12020-Q2202340%30%20%30.77%17.75%14.44%9.69%10%0%-8.27%-10%-20%-30%-40%-50%-14.36%-15.06%-15.4%-15.64%

-15.81%-23.79%-24.99%-32.99%-42.74%Q12020

Q22020

Q32020

Q42020

Q12021

Q22021

Q32021

Q42021

Q12022

Q22022

Q32022

Q42022

Q12023

Q2202310/statistics/1246669/indonesia-yoy-property-sales-growth-for-small-housesInthesecondquarterof2023,thepropertysalesforsmallhousesinIndonesiadecreasedbyaround15.81percent.Amongthreehousingtypes(small,medium,andbighouses),thepropertysalesforsmallhouseshadthemostsignificantdecline.

ReadmoreNote(s):Indonesia;Q12020toQ22023Source(s):BankIndonesiaYear-on-year(YoY)propertysalesgrowthformediumhousesinIndonesiafrom1stquarter2020to2ndquarter2023YoYpropertysalesgrowthformediumhousesIndonesiaQ12020-Q2202330%20%10%0%25.86%12.25%11.26%7.03%6.55%3.63%-1.59%-10%-20%-30%-40%-50%-60%-15.17%-19.5%-20.05%-24.13%-29.28%-40.11%-50.63%Q12020

Q22020

Q32020

Q42020

Q12021

Q22021

Q32021

Q42021

Q12022

Q22022

Q32022

Q42022

Q12023

Q2202311Description:Inthesecondquarterof2023,thepropertysalesformediumhousesinIndonesiahadasignificantdecreaseofyear-on-yeargrowthbyaround15.17percentafterexperiencingapositivegrowthinthepreviousquarter.Amongthethreehousingtypes(small,medium,andbighouses),onlythesalesforlargehouseshadapositivegrowthinthesameperiod.ReadmoreNote(s):Indonesia;Q12020toQ22023Source(s):BankIndonesiaYear-on-year(YoY)propertysalesgrowthforbighousesinIndonesiafrom1stquarter2020to2ndquarter2023YoYpropertysalesgrowthforbighousesIndonesiaQ12020-Q2202360%45.57%40%20%0%29.86%19.73%17.28%15.11%6.95%4.01%-2.75%-6.52%-12.99%-13.99%-20%-40%-60%-80%-36.71%-36.65%-60.03%Q12020

Q22020

Q32020

Q42020

Q12021

Q22021

Q32021

Q42021

Q12022

Q22022

Q32022

Q42022

Q12023

Q2202312Description:Inthesecondquarterof2023,thepropertysalesforbighousesinIndonesiaincreasedsignificantlybyaround15.11percentafterexperiencinganegativegrowthinthepreviousquarter.Amongthethreehousingtypes(small,medium,andbighouses),onlythesalesforlargehouseshadapositivegrowthinthesameperiod.ReadmoreNote(s):Indonesia;Q12020toQ22023Source(s):BankIndonesiaLeadingsourcesoffinancingforresidentialpropertydevelopersinIndonesiaasof2ndquarter2023LeadingsourcesoffinancingforresidentialpropertydevelopersIndonesiaQ2202380%72.8%70%60%50%40%30%20%10%16.09%7.59%0%InternalfundBankloanConsumer13/statistics/1246807/indonesia-leading-financing-sources-for-residential-property-developersInthesecondquarterof2023,nearly73percentofresidentialpropertydevelopersinIndonesiafinancedtheirdevelopmentthroughtheirownfunds.Incomparison,around16percentofdevelopersfinancedtheirdevelopmentthroughbankloans.

ReadmoreNote(s):Indonesia;Q22023Source(s):BankIndonesiaLeadingsourcesoffinancingforconsumersbuyingresidentialpropertyinIndonesiaasof2ndquarter2023LeadingfundingsourceforconsumersbuyingresidentialpropertyIndonesiaQ22023Cash6.73%Cashinstallment17.25%Houseownershiploan76.02%14/statistics/1246823/indonesia-leading-financing-source-for-consumers-buying-residential-propertyInthesecondquarterof2023,around76percentofthecustomersinIndonesiafinancedtheirresidentialpropertypurchasebytakingahouseownershiploan.Incomparison,nearlysevenpercentoftherespondentspurchasedtheirpropertywithcash.ReadmoreNote(s):Indonesia;Q22023Source(s):BankIndonesiaValueofthehousingfinancingliquidityfacility(FLPP)inIndonesiafrom1stquarter2020to2ndquarter2023(intrillionIndonesianrupiah)HousingfinancingliquidityfacilityvalueIndonesiaQ12020-Q220239.08.038.07.236.737.06.05.04.03.02.01.05.985.965.685.175.084.543.332.822.292.111.75Q12020

Q22020

Q32020

Q42020

Q12021

Q22021

Q32021

Q42021

Q12022

Q22022

Q32022

Q42022

Q12023

Q2202315Description:Inthesecondquarterof2023,thevalueofthehousingfinancingliquidityfacility(FLPP)inIndonesiaamountedtonearlysixtrillionIndonesianrupiah,showinganincreasefromthepreviousquarter.ThehousingfinancingliquidityfacilityisaprogramfromtheMinistryofPublicWorksandPublicHousingtohelplow-incomecitizensbuytheirownhomes.ReadmoreNote(s):Indonesia;Q12020toQ22023Source(s):BankIndonesiaCHAPTER

03ResidentialrealestateResidentialpropertypriceindexinIndonesiafrom3rdquarter2021to2ndquarter2023ResidentialpropertypriceindexinIndonesiaQ32021-Q22023107.5107.0106.5106.0105.5105.0104.5104.0103.5103.0Q32021Q42021Q12022Q22022Q32022Q42022Q12023Q2202317Description:TheresidentialpropertypriceindexinIndonesiafromthethirdquarterof2021tothesecondquarterof2023hasgraduallyincreased,reachingavalueof107.26indexpointsasofthesecondquarterof2023.LandinIndonesiacanonlybeownedbyIndonesiancitizens.However,ifthebuildinghasastratatitlestatus,non-Indonesianscanalsoownanapartmentorofficespacebutnotthelandonwhichitstands.ReadmoreNote(s):Indonesia;Q32021toQ22023;basedonaveragevalueof18bigcitiesacrossIndonesia.Source(s):BankIndonesiaYear-on-year(YoY)residentialpropertypriceindexgrowthinJakartametropolitanarea,Indonesiafrom1stquarter2022to2ndquarter2023YoYresidentialpropertypriceindexgrowthinJabodetabek,IndonesiaQ12022-Q220232.4%2.3%2.2%2.1%2.0%1.9%1.8%1.7%1.6%Q12022Q22022Q32022Q42022Q12023Q2202318Description:Asofthesecondquarterof2023,theresidentialpropertypriceindexintheJakartametropolitanarea(locallyknownasJabodetabek)increasedby2.24percent.TheyearonyeargrowthoftheresidentialpropertyindexinJakartametropolitanareakeepsincreasinginthepastfewyears.ReadmoreNote(s):Indonesia;Q12022toQ22023Source(s):BankIndonesiaAveragelandpriceoflandedresidentialhomesinGreaterJakarta,Indonesiaasofthe1sthalfof2023,byregion(inmillionIndonesianrupiahpersquaremeter)ResidentialmarketaveragelandpriceinGreaterJakartaIndonesiaH12023,byregionPriceinmillionIndonesianrupiahpersquaremeter024681012141618JakartaTangerangBekasi15.6715.0710.73Bogor-Depok8.2419Description:Asofthefirsthalfof2023,theaveragelandpriceoflandedresidentialhomesinJakartawasabout15.67millionIndonesianrupiahpersquaremeter.JakartaisIndonesia'scapitalcityandfinancialcenter,andtheaveragelandpricethereishighercomparedtootherareas.TheresidentialpropertypriceinGreaterJakartaalsohasbeensteadilyincreasinginthepastdecades.

ReadmoreNote(s):Indonesia;H12023Source(s):Cushman&WakefieldAveragemonthlyinterestrateofhouseloansinIndonesiafromJanuary2020toMay2023AveragemonthlyinterestrateofhouseloansIndonesia2020-H120239.0%8.72%8.8%8.6%8.4%8.2%8.0%7.8%7.6%7.4%7.2%7.0%8.67%8.61%8.57%8.59%8.54%8.5%8.45%8.39%8.35%8.32%8.31%8.3%8.3%8.3%8.3%8.27%8.22%8.15%8%7.9%7.8%7.8%7.7%7.7%7.7%7.6%7.6%7.57%7.55%7.52%7.49%7.46%Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Sep

Dec

Mar

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May20

20

20

20

20

20

20

20

20

20

20

20

21

21

21

21

21

21

21

21

22

22

22

22

22

22

22

22

23

23

23

23

2320Description:AsofMay2023,theaveragemonthlyinterestrateforhouseloansinIndonesiawas7.46percent.Thehouseloaninterestrateinthecountryhasgraduallydecreasedoverthepasfewyears,withadropofaround1.26percentcomparedtotherateinJanuary2020.ReadmoreNote(s):Indonesia;2020toH12023Source(s):RAveragemonthlyinterestrateofapartmentloansinIndonesiafromJanuary2020toMay2023AveragemonthlyinterestrateofapartmentloansIndonesia2020-H120238.9%8.65%8.7%8.5%8.3%8.1%7.9%7.7%7.5%8.63%8.54%8.53%8.51%8.52%8.45%8.42%8.37%8.34%8.32%8.3%8.3%8.3%8.2%

8.2%8.2%8.21%8.04%7.88%7.82%7.74%7.74%7.74%7.74%7.74%7.71%7.72%7.7%7.68%7.66%7.7%7.69%Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Sep

Dec

Mar

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May20

20

20

20

20

20

20

20

20

20

20

20

21

21

21

21

21

21

21

21

22

22

22

22

22

22

22

22

23

23

23

23

2321Description:InMay2023,theaveragemonthlyinterestrateforapartmentloansinIndonesiawas7.71percent.Thisindicatedasignificantdecreasecomparedtotheinterestrateinthethebeginningof2020,whichstoodat8.65percent.

ReadmoreNote(s):Indonesia;2020toH12023Source(s):RSupplyoflandedresidentialunitsinGreaterJakarta,Indonesiaasofthe1sthalfof2023,byregion(in1,000units)SupplyoflandedresidentialhomesGreaterJakartainIndonesiaH12023,byregionNumberofthousandunits050100150200250TangerangBekasi210.6395.76Bogor-DepokJakarta88.6426.3422Description:Asofthefirsthalfof2023,thenumberofsupplyforlandedresidentialhomesinJakartaamountedtoaround26.3thousandunits.Jakarta,Indonesia'scapitalcityandfinancialcenter,hasaveryhighdensityandrapidpopulationgrowth.Thiscreatesahighdemandforpropertyinthecity,andtheaveragelandpricethereishighercomparedtootherareas.ReadmoreNote(s):Indonesia;H12023Source(s):Cushman&WakefieldForecastedsupplyofrentalapartmentsinJakarta,Indonesiafrom2ndhalf2023to2028ForecastedsupplyofrentalapartmentsinJakarta,IndonesiaH22023-20288007497006005004003002001000364203204181H22023202420252027202823Description:Forthesecondhalfof2023,theforecastedsupplyofrentalapartmentsamountedtoabout749units.JakartaisIndonesia'scapitalcityandfinancialcenter,manyJakartansprefertoliveinanapartmentastherearemoreaffordableoptionsforthiscomparedtoresidentialhomes.ReadmoreNote(s):Indonesia;H12023Source(s):KnightFrankCHAPTER

04CommercialrealestateCommercialpropertypriceindexinIndonesiafrom1stquarter2018to2ndquarter2023CommercialpropertypriceindexinIndonesiaQ12018-Q22023103.5103.0102.5102.0101.5101.0100.5100.0Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q22018

2018

2018

2018

2019

2019

2019

2019

2020

2020

2020

2020

2021

2021

2021

2021

2022

2022

2022

2022

2023

202325Description:Asofthesecondquarterof2023,thecommercialpropertypriceinIndonesiareachedavalueof103.29indexpoints,indicatinganincreasecomparedtopreviousquarters.Inthethirdandfourthquarterof2020,therealestatemarketforofficeareasandbuildingsexperiencedadeclineduetotheCOVID-19crisis.ReadmoreNote(s):Indonesia;Q12018toQ22023;basedonaveragevalueof11bigcitiesacrossIndonesia.Source(s):BankIndonesiaYear-on-year(YoY)commercialpropertypriceindexgrowthinJakarta,Indonesiafrom1stquarter2020to2ndquarter2023YoYcommercialpropertypriceindexgrowthinJakarta,IndonesiaQ12020-Q220231.2%1.01%0.98%0.96%1.0%0.8%0.6%0.4%0.2%0.0%-0.2%0.77%0.21%0.17%0.03%0.02%0.01%-0.02%-0.02%-0.02%-0.03%-0.1%Q12020

Q22020

Q32020

Q42020

Q12021

Q22021

Q32021

Q42021

Q12022

Q22022

Q32022

Q42022

Q12023

Q2202326Description:Asofthesecondquarterof2023,thecommercialpropertypriceindexinJakarta,Indonesiaincreasedby0.21percent.Theyear-on-yeargrowthofthecity'scommercialpropertypriceindexhasfluctuatedoverthepastfewyears,withthehighestgrowthrecordedinthesecondquarterof2022,ataround1.01percent.ReadmoreNote(s):Indonesia;Q12020toQ22023Source(s):BankIndonesiaOfficebuildingpriceindexinJakarta,Indonesiafrom1stquarter2018to2ndquarter2023,bytypeOfficebuildingpriceindexinJakarta,IndonesiaQ12018-Q22023,bytypeLeasedofficesStrata-titleoffices1051031019997959391898785Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q22018

2018

2018

2018

2019

2019

2019

2019

2020

2020

2020

2020

2021

2021

2021

2021

2022

2022

2022

2022

2023

202327Description:TheleasedofficebuildingpriceindexinJakarta,Indonesia'scapitalcity,hasfluctuatedinthepastfewyears.From97.89indexpointsduringthefirstquarterof2018,thisvaluedeclinedto89.92indexpointsbythesecondquarterof2023.Thestrata-titleoffices,ontheotherhand,remainedstablesincethefirstquarterof2019.ReadmoreNote(s):Indonesia;Q12018toQ22023Source(s):BankIndonesiaHotelpriceindexinDenpasarinBali,Indonesiafrom1stquarter2018to2ndquarter2023HotelpriceindexDenpasarinBali,IndonesiaQ12018-Q220231251151059585756555Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q22018

2018

2018

2018

2019

2019

2019

2019

2020

2020

2020

2020

2021

2021

2021

2021

2022

2022

2022

2022

2023

202328Description:Asofthesecondquarterof2023,thehotelpriceindexinDenpasarinBaliprovince,Indonesiareachedavalueof112.23points.WiththeendofCOVID-19pandemic,thetourismindustryinDenpasarhasstartedtoregainalloftheirperformancepriortotheoutbreak.ReadmoreNote(s):Indonesia;Q12018toQ22023Source(s):BankIndonesiaAveragelandpriceinindustrialareasinGreaterJakarta,Indonesiaasofthe2ndquarterof2023,byregion(inmillionIndonesianrupiahpersquaremeter)IndustrialareasaveragelandpriceinGreaterJakarta,IndonesiaQ22023,byregionPriceinmillionIndonesianrupiahpersquaremeter01234567JakartaBekasi5.752.7Karawang&PurwakartaTangerang2.622.11Serang22BogorSubang1.829Description:Asofthesecondquarterof2023,theaveragelandpriceofindustrialareasinJakartastoodataround5.75millionIndonesianrupiahpersquaremeter.JakartaisIndonesia'scapitalcityandfinancialcenter,itisnotsurprisingthattheaveragelandpricethereismuchhighercomparedtotheotheroutlyingareas.ReadmoreNote(s):Indonesia;Q22023Source(s):Cushman&WakefieldAveragerentforwarehouseanddistributionspaceinGreaterJakarta,Indonesiaasof2ndquarter2023,byregion(inIndonesianrupiahpersquaremeterpermonth)AveragewarehouserentinGreaterJakarta,IndonesiaQ22023,byregionPriceinIndonesianrupiahpersquaremeterpermonth010,00020,00030,00040,00050,00060,00070,00080,00090,000100,000JakartaBekasi94,00079,609Karawang&PurwakartaTangerang69,64365,000Bogor57,85730Description:Asofthesecondquarterof2023,theaveragerentforwarehouseanddistributionspacesinBekasiwasabout79.61thousandIndonesianrupiahpersquaremeterpermonth.JakartaisIndonesia'scapitalcityandfinancialcenter,itisnotsurprisingthattheaveragerentpricethereismuchhighercomparedtotheotheroutlyingareas.ReadmoreNote(s):Indonesia;Q22023Source(s):Cushman&WakefieldTotalinventoryofindustrialestatesinGreaterJakartaasof2ndquarterof2023,byregion(inhectares)TotalinventoryofindustrialestatesinGreaterJakartaQ22023,byregionAreainhectares8,00002,0004,0006,0005,50610,00012,00014,00016,00018,000BekasiKarawang&PurwakartaSerang5,1753,338Jakarta1,08980440080TangerangSubangBogorTotal16,39231/statistics/1039550/indonesia-total-inventory-of-industrial-estates-in-greater-jakartaAsofthesecondquarterof2023,theregionofBekasiinGreaterJakartahadabout5.5thousandhectaresofindustrialestateinventory.ThisisnotsurprisingasSoutheastAsia'sbiggestindustrialestate,KotaJababeka,islocatedintheBekasiregion.

ReadmoreNote(s):Indonesia;Q22023Source(s):Cushman&WakefieldCHAPTER

05LeadingcompaniesTotalassetsofmajorrealestatedevelopersinIndonesiaasofNovember2022(intrillionIndonesianrupiah)AssetsofmajorrealestatedevelopersinIndonesia2022TotalassetsintrillionIndonesianrupiah010203040506070PTBumiSerpongDamaiTbk(BSDE)PTLippoKarawaciTbk(LPKR)60.8956.5PTCiputraDevelopmentTbk(CTRA)PTAgungPodomoroLandTbk(APLN)PTPakuwonJatiTbk(PWON)37.8830.6326.4925.7522.85PTSummareconAgungTbk(SMRA)PTAlamSuteraRealtyTbk(ASRI)PTPPPropertiTbk(PPRO)18.4933Description:AsofNovember2022,PTBumiSerpongDamaiwasthelargestrealestatedeveloperinIndonesia,withtotalassetsofapproximately60.89trillionIndonesianrupiah.TherankingwasfollowedbyPTLippoKarawaciandPTCiputraDevelopment.

ReadmoreNote(s):Indonesia;January2022Source(s):RTotalassetsofPTBumiSerpongDamaiTbkfromfiscalyear2016to2022(inbillionIndonesianrupiah)BumiSerpongDamai'sassetsFY2016-202270,00060,00050,00064,999.461,469.7160,862.9354,54152,19145,95138,53640,00030,00020,00010,0000201620172018201920202021202234Description:In2022,thetotalassetsofPTBumiSerpongDamaiTbkamountedtoapproximately65trillionIndonesianrupiah,showinganincreaseofaround3.5trillionIndonesianrupiahincomparisontothepreviousyear.Since1989thecompanyhasbeendevelopingtheBumiSerpongDamaiCity,commonlycalledasBSD,locatedinTangerang,notfarfromthecapitalcity,Jakarta.ReadmoreNote(s):Indonesia;FY2016toFY2022Source(s):BumiSerpongDamaiRevenueofPTBumiSerpongDamaiTbkfromfiscalyear2016to2022(inbillionIndonesianrupiah)BumiSerpongDamai'srevenueFY2016-202212,00010,34710,23510,0007,6558,0006,6037,0856,6296,1816,0004,0002,0000201620172018201920202021202235Description:In2022,Indonesia'spropertycompany,PTBumiSerpongDamaigeneratedarevenueofabout10.24trillionIndonesianrupiah,showinganincreaseincomparisontothepreviousyear.Since1989thecompanyhasbeendevelopingtheBumiSerpongDamaiCity,commonlycalledasBSD,locatedinTangerang,notfarfromthecapitalcity,Jakarta.ReadmoreNote(s):Indonesia;FY2016toFY2022Source(s):BumiSerpongDamaiTotalassetsofPTLippoKarawaciTbk(LPKR)fromfiscalyear2016to2022(intrillionIndonesianrupiah)AssetsofPTLippoKarawaciTbkFY2016-20226055.0851.8752.0851.2849.8749.085040302010042.94201620172018201920202021202236Description:In2022,thetotalassetsofPTLippoKarawaciTbk(LPKR),oneofIndonesia'slargestrealestatecompanies,amountedtoaround49.87trillionIndonesianrupiah,showingadecreaseofaround2.21trillion