Indonesia property sector set for further growth

Indonesian property businesses, particularly in Jakarta, are viewing favourable conditions allowing for further growth next year.

However, it must be noted that the magnitude of the sector’s growth next year will not be great as that in the recent three years. Analysts agreed that significant growth would be seen, according to Amran Nukman, the Jakartan branch chairman of the Indonesian Real Estate Association (REI).

Chairman Nukman explained property businesses will continue to gradually grow next year. During 2012 we saw the sector rise from 40 to 60%. Next year, 10 to 20% growth is expected. This growth is considerably good with next year’s likely favourable economic conditions.

The optimism that the sector is to develop next year, takes into consideration the Jakarta administration’s support on property businesses in the city. 

Singapore Subsidiary Acquires Lippo's Rp 3.6t Asset

Singapore-listed Lippo Malls Indonesia Retail Trust Ltd. (LMIR Trust), subsidiary of Jakarta-listed developer Lippo Karawaci (LPKR), has revealed the acquisition of Rp3.6trillion (US$300.72million) Lippo Mall Kemang (LMK) from its sister company. This is in a transaction that will shift ownership of the assets towards a Singaporean entity.

LMIRT Management Ltd., manager of LMIR Trust, are to issue up to 301.37million consideration units (shares) representing 12.2% of the current shares to aid in funding the Lippo Mall Kemang acquisition from its current owner, Lippo Karawaci’s subsidiary, PT Almaron Perkasa (AP), according to Monday’s statement on the Singapore Stock Exchange website.

The statement went on to explain Rp3.18trillion of the LMK purchase is to be paid in cash as the remaining Rp420billion would be produced by way of the consideration units.

Commercial People - MIPIM 2015!

Hello, Commercial People Indonesia! It’s Friday! However, Commercial People are bustling in each of our offices at the moment as agents are rapidly rolling onto our sites with their latest property listings.

• www.commercialpeople.co.id is looking luxurious as numbers of serviced apartments are for sale – Nothing but gorgeous homes! Also available are offices throughout Jakarta and much, much more different properties across the country.
• On www.commercialpeople.co.uk, Instant Offices have over 2,000 serviced offices across the UK – It is guaranteed there is an office available in your desired location. This is alongside many more other agents, surveyors and brokers listing in every Commercial People category from development sites to healthcare properties.
• Over at www.commercialpeople.co.za, there are a wealth of farms available, complimenting the stunning natural beauty of South Africa. To go with this, business spaces are also on offer including retail, trading and storage space. If in search of a new home instead, the residential listings on our South African sites are all from friendly and ideal locations for your livelihood.
• What ever business you are planning in India, the correct space is definitely on www.commercialpeople.in. Perhaps you wish to buy? Or rent? Not a problem, both options are available, suited for your needs and your business. There are also so many brand news home available for you to settle down in, even homes still under construction and you could live there first! Just make sure don’t delay, get your enquiries in soon -Visit our websites now.

You’ve probably seen our informative posts on Facebook, Twitter, Linkedin, Google+ and now, Instagram. But did you know we have individual pages on each social media platform for each country Commercial People have launched in? Commercial People will always keep you up to date with the latest listings and hot news across the property industries. Check out our sidebar to the left of each country’s blog for each respective country’s social media links.

So what’s next? 

PT. Selaras Mitra Sejati

If you head over to commercialpeople.co.id, you'll find that PT. Selaras Mitra Sejati have some lovely offices for rent and luxurious residences for sale. Commercial People has even made them their own microsite dedicated to their own latest project! Visit http://www.commercialpeople.co.id/microsites/2/

For the full listings of PT. Selaras Mitra Sejati visit http://www.commercialpeople.co.id/author/selarasmitrasejati/.

Relington Land

Hello, Commercial People of Indonesia! If you are in or near the heart of Indonesia, namely Jakarta, be sure to view Relington Land's listed properties on commercialpeople.co.id! Whether you're in search of a new home, or space for your business, Relington Land have both residential and commercial properties for sale. Visit http://www.commercialpeople.co.id/author/relington/ to find out more. 

Office space in Jakarta to increase

Foreign investors looking to expand their presence in Indonesia over the upcoming four years will find generous office options to choose from in Jakarta, according to a report from worldwide real estate services firm Colliers International.

Whilst total office space in Jakarta rose by just 1% during the first half of 2014, the capital will see an accumulated 10.7million square metres of new office space developed by 2018, up 51% from today‘s 7.1million square metres, according to the report released last Wednesday.

The projection assumes 74 buildings currently under construction or being planned will be completed on schedule. The increase will result in a decrease in office occupancy to under 90% from 96% at the end of the former half.

Newman PearSons International

Hello, Commercial People! Newman PearSons International of Jakarta, have a range of commercial and residential properties for sale or to rent! Find your ideal space by visiting http://www.commercialpeople.co.id/author/newmanpearsons/

Have a fantastic weekend!

Expanding Indonesia - More apartments being developed in response to demand

With continuing economic growth in Indonesia, giving increase to higher per capita GDP, the property market is still rapidly expanding, particularly in the larger cities including Jakarta (the economic and political centre of Indonesia). By next year, 46 new property projects will add almost 25,000 new apartments in Jakarta (‘strata title’, a term referring to the multi-level apartment blocks and horizontal subdivisions with shared areas), with a combined value of approximately IDR23trillion (almost USD$2billion).

With demand and values on the rise in Jakarta, vertical infrastructure is the most lucrative and efficient strategy to engage in property business. The majority of new apartments currently under construction, target Jakarta’s middle class segment affording to spend approximately IDR200 to 500million (USD$17,000 to 43,000), on an apartment. Analysts claim there are no signs of a property bubble arising in Indonesia. The main argument being that the majority of new apartments (around 70%), is purchased by end-users rather than speculative buyers.

East Indonesia the fastest rising in the country

Bank Indonesia’s (BI) latest survey has revealed that property prices in major Eastern Indonesian cities have indicated an upward trajectory owing to the stronger purchasing power of its citizens and an increase in housing investments.

During the April to June period, the index of residential property prices in Manado of North Sulawesi, experienced the largest quarter-to-quarter rise of 9.5%, followed by Makassar in South Sulawesi, with an increase of 6.5%.

The rise of property prices within the two cities was significantly above the overall average of Indonesian cities. BI’s residential property prices index, including 16 major cities in Indonesia, only increased by 1.7% quarter-to-quarter during the same period.

Property shares gain today

Indonesian stocks grew for a second day today, before of the central bank’s monthly meeting on monetary policy.

The benchmark Jakarta Composite Index (JCI), gained 19.15 points (equivalent to 0.4%), to 5,132.39, expanding Monday’s 1.2% advance. Approximately 6.1billion shares valued at Rp5.5trillion ($466million), altered hands on the Indonesia Stock Exchange (IDX). This is still visibly lower than its year’s daily average turnover of Rp6.2trillion. Gainers were ahead of decliners by 181 to 103. Foreign investors accounted for Rp3.5trillion or 64% of the total trading value. They purchased Rp452.4billion in shares more than they sold.

Bank Indonesia, the Nation’s central bank is scheduled to announce its decision on interest rates this Thursday. Economists assume the central bank will maintain its policy rate at 7.5%. It has kept its rate unchanged since November following a gradual increase by 175 basis points in recent months.

All sectors with the exception of agriculture and miscellaneous, grew on the local bourse. Property shares as group, led sectors, with a 0.9% gain. Lippo Karawaci, one of the major property developers of Indonesia, increased 3% to Rp1,205. Surabaya based, Pakuwon Jati gained 2% to Rp445. Infrastructure stocks gained 0.9%. State-owned toll road operator, Jasa Marga contributed 1.6% to Rp 6,250.

Basic industry increased by 0.7%.The manufacturing unit of state controlled construction company Wijaya Karya, Wijaya Karya Beton gained 1.6% to Rp950.

The rupiah strengthened 0.4% to 11,677 against the US dollar from 11,728 on Monday, according to Bank Indonesia data. The yield on the government’s ten year note fell to 8.3541% from 8.3654%, as seen in data from the Indonesia Bond Pricing Agency.

Property groups focusing on healthcare

With health concerns growing amongst Indonesia’s increasing middle class, property groups are also increasingly looking towards the health care business to boost recurring income.

At present, there are 2,337 hospitals scattered throughout South East Asia’s most populous nation, of which just over 30% are private hospitals, as reported by the latest data from the Health Ministry.

Amongst the privately operated are Siloam International Hospitals, opearted by Lippo Karawaci, one of the major listed property developers in Indonesia.

Lippo Karawaci has risen to be the country’s largest private hospital operator following its investments in health care services starting to pay off.

New government will positively rebound property market

The new government is expected to support property growth, as demand for residential properties is on the increase.

Joko Widodo and Jusuf Kalla’s success in winning the presidential race is believed to be influential towards accelerating the property market during the second half of 2014, as numerous property developers and investors have left speculation mode in terms of investment.

The peaceful political process has also been viewed positively, strengthening market confidence towards the future of the country’s property sector. Additionally, active transactions were viewed during the month of Ramadhan and Idul Fitri, further signalling optimism that the property market is bouncing back.

Hendra Hartono, property consultant and CEO of Leads Property Indonesia, alongside Joyp Rusli, chief marketing officer of Lippohomes, expressed confidence in the property sector for the third quarter this year. 

Second Marriott Courtyard opens in Bali

Marriott International has established its second Courtyard branded property in Bali.

Marriott Bali Seminyak’s new Courtyard is a 290 room hotel situated in the Seminyak area of the island, nearby the beach.

Described as an ‘urban oasis’, the hotel offers a variety of rooms with private terraces or balconies, as well as a bar and restaurant, a large lagoon-style pool, 24-hour fitness centre, a kids’ club, plus banqueting and conference space for up to 350 people. Free Wi-Fi is also offered and the hotel has shuttle bus services to the beach and close by entertainment areas.

Another novelty feature of the recent property is an electronic board in the lobby, informing guests on hotel facilities, nearby attractions, flight schedules, a local map and general news.

Marriott’s vice president for Indonesia, Australia, Malaysia and Singapore happily explained that Seminyak, Bali is one of the trendiest locations for business as well as leisure travellers.

Marriott Bali Seminyak is the second brand opening in Bali after the Courtyard by Marriott Bali Nusa Dua. It is the 31st Courtyard hotel in Asia.

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.

Telkom property project

Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk (Telkom), Indonesia's major telecom firm has plans to spend up to Rp1.1trillion ($95.49 million), or around 5% of its total capital expenditure towards a property project. This is according to Finance Director, Honesti Basyir.

Through the firm’s PT Graha Sarana Duta unit, plans are to utilise its 2million square metres of unproductive land for commercial property use.

Earlier the firm announced plans to develop 19 hotels, retail property plus other multifunction property projects over the upcoming five years.

Fashion meets property development

During a recent interview with the Bangkok Post, Tom Light of FashionTV has revealed company plans to place seal on hotels, following success of restaurants and cafes throughout Asia.

Asia is currently one of the most fashion conscious hotspots in the world, with fashion being so much more than clothing and accessories – it is a part of lifestyle choices, from where is a trendy location to eat and even where to stay overnight during travels. Asian cable channel, FashionTV has grown over the last 15 years to become a worldwide marvel, up to date with the very latest in fashion. It has extended its reach in delivering its approval seal (plus distancing Diamond F logo), to clubs and cafes across Asia. The next phase in the plan is to develop a range of hotels for the trendiest people to stay in the most elegant of locations.

The new property developments are to extend beyond Asia to Dubai and India and is to feature residential towers alongside the hotels. Plans are to deliver the same approach towards fashion to the property design, to be circulated across some of the world’s hottest locations.

The plan is comprehensive and ambitious, with 35 projects already scheduled to be launched before the end of 2020. Bangkok Interior Design Studio Marques and Jordy have a diamond inspired design construction for the F Hotel Dubai, finishing with lavish facilities.

The vice-president of business development, Tom Light, explained of being in discussions for expansion within regions, particularly Indonesia, China, Singapore and Thailand. There are a number of club and cafe locations in Bangkok, Shanghai, Shenzhen, Singapore and Tokyo, plus the process of opening in Guangzhou, Pattaya and more. This is just one indication of FashionTV’s popularity in Asia, tuned to over 200million TV viewers, giving confidence to expand into the region’s best hotels.

Property developer profit news

The property unit of Sinar Mas Land, Bumi Serpong Damai (BSD), reported a 73% increase in profit for the first six months of this year, owing to a stake purchase in property developer, Plaza Indonesia Realty.

According to the company’s filling to the Indonesia Stock Exchange (IDX), net income increased to Rp2.6trillion ($226million) within the January to June period, from Rp1.5trillion last year.

In a different statement, BSD owed the rapid profit growth to its purchase of 34.22% of Plaza Indonesia, during April, making it the major shareholder. The company runs the Plaza Indonesia shopping mall, Central Jakarta.

However, BSD’s revenue depleted by 17% to Rp2.4trillion.

Meanwhile, other property developer, Pakuwon Jati’s net income increased by 3% to Rp905.7billion. Revenue grew by 13% to Rp1.8trillion.

Based in Suabaya, Pakuwon aims for its revenue to increase by between 10 and 20% this year. Revenue reached Rp3.03trillion during 2013.

Property leads allocating capital expenditure

Indonesia’s economy boom has had a positive impact upon the property sector, with numerous property developers assigning considerable funds towards capital expenditure (capex), used to expand business, develop new projects or to procure land.

One of the country’s major real estate developers, PT Bumi Serpong Damai Tbk, has this year assigned Rp3trillion (US$25.6billion), towards capex for finance infrastructure development and land acquisition projects.

Additionally, the developer also intends to develop property projects in Serpong, Tangerang plus other areas. The funds are also planned to be used as working capital.

By 19^th June, PT Bumi Serpong Damai Tbk recorded Rp28.017trillion market capitalisation. They are currently working on a number of projects, such as the AEON shopping mall and Saveria Apartment in Serpong, the Grand City housing estate in Balikpapan in East Kalimantan and Indonesia International Expo and Convention Center (IIEC).

Plans to enable foreigners to purchase property in Indonesia

Congratulations to Joko Widodo who was yesterday announced as the new president. During his campaign in the lead up to the Indonesia presidential election 2014, Joko Widodo, widely known as Jokowi, announced intentions to allow foreigners to purchase apartments. This is in an attempt to increase tax revenues; and investor demand may begin to rush towards low prices in the luxury market.

If plans are to go forward, foreign investors will be able to purchase apartments worth at least 2.5billion rupiah in the Jakarta capital, as well as other major cities and within Bali island. Foreigners are currently barred from direct purchases of Indonesian property, which has led to illegal transactions via proxies, therefore enabling them would allow a luxury tax to be imposed on sales.

Australian property group opens in emerging Indonesia

Indonesia has been targeted as a potential source of foreign investment for the Australian housing market.

Towards the House of Representatives’ Standing Committee on Economics inquiry into foreign investment within residential property, Nyko Property explained such investment was beneficial for the Australian economy. This is with the current policy framework essentially correct to ensure no abuses of the system.

Condominium numbers increasing

Worldwide real estate services firm, Jones Lang LaSalle expects Indonesian condominium sales to see a record-breaking figure this year, signalled by Jakarta’s current trend, where people remain to shift to living in apartments rather than detached or attached single-unit houses. Jones Lang LaSalle’s head of research, have announced both developers and buyers have shown growing interest towards developing and purchasing property.

The real estate firm’s report reveals that Indonesian developers established approximately 4,000 new condominium units between April and June this year (such as West Jakarta’s St. Moritz, developed by Lippo Group, plus Central Jakarta’s Raffles Residence, developed by the Ciputra Group). Furthermore, more than 7,400 units have been sold during the recent six months.

Trade Expo Indonesia Towards Green Business

The Ministry of Trade is hosting the largest trade show of Indonesia - the 29th Trade Expo Indonesia (TEI), from 8^th – 12^th October later this year. The international exhibition is to be held in the Jakarta International Expo (JIExpo), with a ‘Towards Green Business’ theme.

This theme follows President Susilo Bambang Yudhoyono at the 2^nd ASEAN Summit which took place last 19^th June at Nadi, Fiji Islands, as a statement was made referring that the green economy is significant for Indonesia’s resilience. Green economy has become a new economic paradigm, promoting economic progress without harming natural wealth and resources.

TEI 2014 will be hosted in an area covering 40,000m², expecting 2,000 exhibitors targeting an audience of 10,000 people. The products to be on show will include main export commodities, prospective exports commodity, as well as other export products. This is as well as products and services from well-trained labour, including professional, hospitality and construction services.

These products will highlight the continuity of the company in operating a green business, made with focus towards social environment aspects and so products do not just meet the standards of aesthetics and function. Another key factor to be considered is fair trade. This aspect, amongst others, is shown by fairness to all interested and Indonesian businessmen’s ability to meet fair trade’s international standards.

British visitor arrivals reach record high

Indonesia has received 48,871 British visitor arrivals, a record number during the first quarter of this year.

The number of UK visitor numbers continued to perform during April when 19,809 Brits visited, an 18.2% year on year increase and the highest monthly figure for April since 2011.

The Ministry of Tourism and Creative Economy for the Republic of Indonesia assumes the strong figures to remain. From 8^th September, five direct flights a week from Jakarta to Amsterdam will be extended to Gatwick.

The UK Country Manager expressed delight in seeing growth in the number visitor arrivals from the UK.

The UK quarters one of the most significant international markets for Indonesia. These UK visitor numbers follow the opening of the destination’s first UK office, further demonstrating Indonesia’s commitment to the market and acknowledgement of its contribution to the country’s tourism economy.

For Commercial People, this seems like a good time to start investing, or selling, in hospitality! Visit www.commercialpeople.co.id!

Onyx hospitality becoming global, plans to overtake Indonesian hotel in 2016

One of the largest Thai hotel management firms, Onyx Hospitality Group plans to raise its presence amongst global players, with plans to operate 15 hotels domestically and overseas over the upcoming three years - Six Amari, four OZO, three Shama and two in The Mosaic Collection (TMC).

The firm also plans to increase its property portfolio total from 37 to 81 by 2018.

This year, they are prepared to overtake operation of Amari Dhaka in Bangladesh and OZO Pattaya of Thailand. Next year, Amari Residences Jomtien of Pattaya, Amari Dali of China, Amari Johor Bahru of Malaysia, OZO Kandy and OZO Galle of Sri Lanka, OZO Penang of Malaysia, Shama Beijing and Shama Chengdu of China, Pattaya Bay Resort, plus Nova Residence Pattaya will be operated. 

Onyx will continue to overtake more hotels during 2016, namely Amari Pecatu Bali in Indonesia and Amari Huidong and Shama Pazhou Guangzhou, China.

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.

Presidential candidates to improve Indonesia transport

Both Prabowo Subianto and Joko Widodo of the Indonesian presidential election have pledged to spend big on transport links including roads, railways and ports – Benefiting retailers who struggle to reach customers within remote regions of the island nation. Whilst consumer companies within the fourth most populous country of the world, trailed builders as the benchmark stock index elevated by 18% this year, the Indonesia Food and Beverage Producers Association claim sales could be as much as 50% higher, if only access to rural areas were improved.

Aberdeen Asset Management, which oversees approximately $541billion, view consumer companies in Indonesia as a way of indirectly playing the infrastructure. This is as they claim any pro-infrastructure policy would make the economy more competitive, benefiting consumers.

London based research firm, Kantar Worldpanel forecasts Indonesia to gain 80 million new consumers over the upcoming 15 years. This is as Indonesia’s economy is forecasted to grow by 5.7% each year through 2016.

Foreign developers keen on Indonesia's property market

A number of foreign developers have laid eyes on Indonesia’s property market owing to the country’s massive population and economic growth of 5.5% - the highest of South East Asia.

It has been reported, investors from China, Korea, Malaysia and Singapore have expressed interests in extending property businesses to Indonesia. The property project types they are interested in, vary from residential projects including apartments to commercial projects, such as shopping centres and industrial estates.

For example, the Singaporean based Pacific Star Holdings Pte Ltd., intends to manage one property project in the Sudirman Central Business District (SCBD) in Jakarta and another one in Bali.

This is as they cited data from the United States Trade Department, highlighting that Indonesia quarters the world’s fourth-most populous country with 253.60million people, as the reason for investing towards the country’s property sector. It selected Jakarta as the project site, owing to the city’s profitable nature for property development.

The public sector and small and medium sized enterprises are the largest and most robust markets

US based ICT company, Hewlett-Packard (HP) is targeting customers from small and medium sized enterprises (SMEs), together with the public sector in Indonesia, as these market segments are said to be the nation’s most robust.

Jim Merritt, the senior vice president of HP and general manager of Enterprise Group for Asia-Pacific and Japan explained the company regards developing markets such as Indonesia as an engine of growth.

It was claimed Indonesian SMEs were the largest private sector market for HP products, following commercial retail accounts and global companies. By size alone, the SMEs are rapidly growing.

According to Indonesia’s Cooperatives and SMEs Ministry data, the SMEs compose almost 90% of all Indonesian businesses. 97.2% of domestic employment is also provided, generating 57.9% to the country’s gross domestic product (GDP).

Indonesia stocks gain following election day

Asian stock markets were mainly higher today, as China's exports showed a slight pickup. This is as Indonesian stocks rocketed, despite contested presidential election results.

South Korea's Kospi rose 0.2% to 2,003.63, despite the central bank lowering this year's growth outlook. Hong Kong's Hang Seng increased by 0.2% to 23,227.91 and China's Shanghai Composite increased 0.1% higher to 2,040.92. Australian, Singaporean and Thai stocks also gained ground.

In Indonesia, the benchmark stock index exceeded by 2% following the first count of the country's presidential election revealing a narrow victory for Joko Widodo. Despite Prabowo Subianto’s refusal to concede, investors seem to believe the result was distinguished.

US congratulates Indonesia on 'historic' election

The US has congratulated Indonesia on a ‘historic’ presidential election. This is as both Indonesian candidates, namely Prabowo Subianto and Joko Widodo, claimed that unofficial early counts revealed they are winners.

The White House praised Indonesia's high voter turnout - as a spirited election campaign with strong participation - these factors underscored Indonesia as a developing democracy.

The administration of Washington also highlighted the fact that the US and Indonesia are the world's second and third largest democracies respectively.

President Obama is also looking forward to continuing the Comprehensive Partnership, established during 2010 with the new president and the new parliament.

However, it is now unlikely that more will be heard from the White House in regards to the election, this is until after the official results are released later this month. No doubt, there will be congratulations from Washington to the winner.

Indonesian elections, plus the latest from Commercial People

Hello, Indonesia! We hope you're enjoying the public holiday for this year's elections! According to Commercial People's sources, it seems Jakarta governor, Joko Widodo has a slight lead against ex-army general, Prabowo Subianto. It has been excitingly tense these past few weeks!

However, the public holiday does not stop Commercial People who are still hard at work! We have some upcoming listings for www.commercialpeople.co.id, so be sure to keep checking our website. Everybody is buzzing at Commercial People Global as we are preparing to launch in further countries. The next launch may be sooner than you think! So be sure to follow us on all our social media, to ensure you don't miss our launch days. Links can be found on the right side of our blogs :) Thank you for all your likes and follows so far.

We are also happy to announce that yesterday, Commercial People joined Instagram as @commercialpeople. We already have some great images as well as videos. If you list your property with our Platinum package, it may be featured on the ever popular mobile platform. So be sure to follow us on your smart devices.

The latest in Indonesia

The benchmark index of Indonesia reached near a four week high yesterday, as foreign inflows raised select large-caps such as Bank Rakyat and Telkom Indonesia. This is before the presidential election on Wednesday.

Investors are anticipating the outcome of the 9^th July election, with a more visible political outlook set to revive interest for assets, brokers and fund managers.

According to Fidelity's FF Indonesia Fund’s portfolio manager, the outcome of the election is not expected to alter or affect the fund's long-term positive view of Indonesia. This is despite the currently levelled race between the two leading candidates, as both Joko Widodo and Prabowo Subianto have very similar agendas.

Jakarta's composite index increased to 1.2%, its highest since 11^th June, building on a 1.3% gain last week, when the first weekly gain in four was marked on the market.

The Indonesian rupiah reached a five-week high yesterday.