Qatar Officially Invests IDR 40.6 Trillion, Builds 50,000 Vertical Residentials

JAKARTA - A company from Qatar, PT Al Qilaa International Indonesia is officially working on a vertical residential project in Indonesia. The investment brought by Qatar for this project is 2.5 billion US dollars or equivalent to Rp40.6 trillion (assuming an exchange rate of Rp16,225 per US dollar).

Qatar also formed a team involving Danantara support, PT Bank Tabungan Negara (BTN), Ministry of PKP, PT China Communications Construction Indonesia, Risjadson Land and Director, DLS Consultancy Pte. Ltd.

Chairman of PT Al Qilaa International Indonesia Syekh Abdulaziz Al-Thani said the construction of this vertical residential project will be carried out in two phases. In the first phase as many as 50,000 units will be built.

This is a big project. We are talking about 50,000 housing units in this project. This is a phase 1 project. After that, we will carry out phase 2 with 50,000 (home units)," he said at a press conference, in Jakarta, Thursday, June 26.

Sheikh Abdulaziz explained that the shape of the house to be built is vertical housing. He also said the price offered would also be very affordable. Even so, he has not mentioned the price range per unit.

"So we will sell it at a good price, but as you can see, there are views, educational systems, schools, playrooms, basement facilities, and we will do this project with the smart tower concept," he said.

Furthermore, Sheikh Abdulaziz said that his party is targeting the construction of this vertical residential area to be completed in the next two years.

"But we hope it can be completed in two years," he said.

Head of the Housing Task Force Hashim Djojohadikusumo said the Qatar investment residential project would be built on government land or State-Owned Enterprises (BUMN). The goal is to get a low price.

Some of the state-owned land to be used belongs to PT Kereta Api Indonesia (Persero) or KAI, Perumnas, Pertamina, to PT Perkebunan Nusantara (PTPN).

"We will have 800 SOEs in Indonesia, not all of them own land but maybe most of them," said Hashim.

Meanwhile, COO BPI Danantara Dony Oskaria said his party would also be involved in supporting this project. He said, in the future the housing sector is a shared responsibility.

"Of course, we are fully committed, Mr. Hashim, to support this program. We have a lot of unproductive land, which we can collaborate on, which of course we will do later, this will become a big milestone in the housing project directed at the President," he said.