Developers targeting university students

Numerous property developers have begun to look towards outskirts in proximity to campuses as they target university students for their projects.

The booming middle class of Indonesia has led to more families being able to send their children to respected universities at home.

Favoured universities are concentrated within Java, including the University of Indonesia (UI) in Depok, West Java; the Bogor Institute of Agriculture also in West Java; the University of Gadjah Mada, Yogyakarta, Central Java; the Surabaya Institute of Technology, East Java; the Bandung Institute of Technology; and Padjadjaran University – both situated within Bandung of West Java. 

Many students arrive from throughout the different islands of Indonesia, residing close by their chosen campus.

Previously, boarding homes were popular amongst students, owing to their affordability. But with their parents’ increasing purchasing power, many have turned to seeking apartments.

Property News - Majestic Land Developments

The chief of Majestic Land property developer has announced works on a portfolio of new property projects for the upcoming five years, beginning this year.

The projects are worth Rp40trillion ($3.45billion) and will involve the development of residential, commercial and hospital buildings.

Majestic Land are optimistic the property business will maintain good prospects. Which is why they have continued to expand into differing property segments.

One project includes apartment development in Yogyakarta where the company are also aiming to develop a condominium hotel to be titled the Best Western Condotel upon 1,682 square metres of land.

According to Majestic Land, of the 124 fully furnished condotel units still under construction, 89% had already been sold. It is not unusual for property developers to sell units of a project prior to completion of construction, to aid in financing the development. The new property unit owners are to take possession in the next 15 months.

Other Majestic Land projects include a condotel in Bandung, West Java, as well as an office tower in Jakarta, plus a villa development project in Bali. These projects all differ in value, with the major one being the office tower in Jakarta, estimated to cost Rp870billion.

Majestic Land also develop property elsewhere in Asia.