JAKARTA - Economic conditions in Indonesia are gradually improving after the COVID-19 pandemic that has occurred over the last two years. The economic recovery occurred in various sectors, one of which was property.
According to the results of a survey conducted by a property consulting company, Knight Frank Indonesia in April 2022, 90 percent of respondents described their optimism for the recovery of the property sector in 2022.
This is supported by many factors, including the positive performance of the residential sub-sector which still dominates and the Government-borne Value Added Tax (VAT) incentive (DPT).
Vasanta Ecotown also showed similar optimism through a cooperation agreement with Mitra10 which was signed on Monday, June 13. The Modern Retail of Building Materials & home improvement, which is under the auspices of PT Catur Sentosa Adiprana Tbk, will buy land and open the first flagship store in Vasanta Ecotown, Sawangan, Depok.
The Mitra10 superstore is targeted to start operating on the shopping street The Shoppes at Senopati Boulevard, Vasanta Ecotown in 2023.
Carrying the concept of shopping for building materials and home supplies under one roof (one stop shopping for home) with "Cheap, Complete and Convenient", Mitra10 Superstore will later be built on an area of 11,462 m2 with a building area of 9,912 m2.
Chief Marketing Officer of Vasanta Ecotown, Denny Asalim, said that the presence of Mitra10 as one of the anchor tenants is part of the commitment to realizing the Senopati Boulevard commercial area as a convenient retail destination. Through this collaboration, it is also hoped that it can contribute positively to economic and property recovery in Indonesia.
"Vasanta Ecotown and Mitra10 have a common value, namely providing convenience and comfort to meet the lifestyle needs of residents. In addition, our objective is to support economic movement, especially in West Java and provide opportunities for domestic and foreign investors to invest in Indonesia," said Denny .
Mitra10's General Manager of Marketing Communications, Erick Koswara, explained that Vasanta Ecotown has various promising potentials for Mitra10. In terms of property market potential, this area is surrounded by residential houses and apartments, commercial units such as shop houses, to cafes.
The strategic and easily accessible location of Vasanta Ecotown is also the main reason to attract Mitra10 customers, both in Vasanta Ecotown and Depok and its surroundings. Located in South Jakarta and can be reached via the Depok-Antasari Toll Road, as well as the Jakarta Outer Ring Road 2 (JORR 2), which has been operating since 2021.
In addition, another advantage that is presented by Senopati Boulevard is the two-kilometer Shopping Street which is part of the master plan of the Vasanta Ecotown project. Dozens of well-known brands, including Starbucks, KFC, Burger King, Hokben, Holycow, Flip Burger, Vilo Gelato, Imperial Kitchen and several other brands have expressed interest in joining Vasanta Ecotown.
"Sustainable infrastructure development in Greater Jakarta has made a major contribution to the property market in Jakarta and its satellite cities. We see the potential of this development with a commitment to provide high value development to all customers and stakeholders. We firmly believe Vasanta Group is a partner with good reputation in providing quality and added value to customers and society,: said Erick.
For Mitra10, the presence of the Mitra10 outlet in Vasanta Ecotown will fulfill the target of ownership of up to 100 outlets in Indonesia.
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