REPUBLIKA.CO.ID, JAKARTA -- A Japanese real estate investor is ready to invest Rp2 trillion in the housing sector to support Indonesia's one million house program, an official stated.
The investor has planned to build accommodations for workers in industrial zones by using Japanese technology and meeting the country's quality standards, Chairman of the Investment Coordinating Board (BKPM) Franky Sibarani noted in a statement here, Friday.
"Initially, Rp2 trillion will be invested in a housing construction project in an industrial zone in West Java, and the funds will be channeled from the start of the second semester of 2016," Sibarani remarked.
By building houses in industrial zones, the living costs of the workers would reduce as they would not have to spend on transportation, he explained.
Sibarani hoped that the companies will provide houses as facilities for their workers.
The board's Deputy Chairman, Azhar Lubis, held a one-on-one meeting in Osaka on Thursday (May 12).
Lubis affirmed he would guard the investment commitments expressed by Japanese investors through coordination between the BKPM representatives in Tokyo and the Indonesian diplomats in Japan's capital city.
In the first quarter of 2016, Japanese investment in Indonesia reached US$1.58 billion spread across 427 projects and offering employment to 28,377 workers.
Japan comes second to Singapore in the list of largest investing nations in Indonesia, followed by Hong Kong, China, and the Netherlands.
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