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James Riady: Infrastructure is a Major Driver of the Property Business

by Sebastianus Epifany Friday, November 3, 2017 - 15:05

CEO Lippo Group James Riady Lippo Group CEO James Riady revealed that the infrastructure sector is a major driver of the property business. This was presented by him in the event of Property Leaders Dialogue in Jakarta (1/11).

Based on information from (3/11), James Riady in the event explained, "Property sentiment is pretty good at the moment and the opportunity can be expanded more. The government should be able to empower all developers to build housing integrated with infrastructure."

Particularly James Riady highlighted the construction planned of the elevated highway of Jakarta-Cikampek II to reduce the density of toll roads. According to him, the project construction can be more massive by adding up to 8 layers because now toll road density occurs along the Jakarta-Cikampek toll road and it causing inefficient cost.

"Cikampek is the economic centre of Southeast Asia, not just Indonesia. There are many big industrial and land bank companies there," said James Riady while explaining that the east corridor of Jakarta is very potential to be developed because it is adjacent to Jakarta and in this area also has established an international industrial area.

President Director of PT PP Properties Tbk, Taufik Hidayat, in the event, said the developers wait for various stimulus from the government to support the growth of the property industry. According to him, the government must immediately take action related to the current sluggish conditions.

"A number of vitamins such as bank interest control from Bank Indonesia, inflation control, until infrastructure development must continue to be encouraged," said Taufik.

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