Jakarta. The Asia Pacific Property Conference, or APPC, which concluded recently at The Langham, Shanghai, has highlighted the vast potential of the Indonesian real estate market to an audience of prominent Southeast Asian property developers, Chinese real estate professionals, and global investors.

The two-day event, held from October 13–14, spotlighted the entrance of Indonesian developers into the international arena. Rusmin Lawin, the special envoy of the Nusantara Capital City National Transition Committee, revealed ambitious plans to make the new Indonesia's capital one of the world's leading sustainable cities by 2045.

"The investors were attracted to opportunities in Indonesia due to, first, Nusantara, the capital city," he told the Globe on Tuesday.

Nusantara, the future capital of Indonesia, spans an area of 2,561 square kilometers with an estimated cost of Rp 466 trillion rupiah ($46 billion) to build. The government would bear around 19–20 percent of the cost, while the rest would come from the private sector, state-owned enterprises, and public-private partnerships.

Rusmin, who is also the deputy chairman for international cooperation of Real Estate Indonesia (REI), also touched upon Indonesia's recently streamlined regulations on foreign property ownership, making it an even more attractive destination for international investors.

In addition, Rumin shed light on the growing digital nomad community in a popular tourist destination, Bali, and mentioned the Golden Visa program, which promises an appealing path to long-term residency in Indonesia for eligible candidates.

"It's also interesting that many of the Chinese investors have heard about Whoosh, and they wanted to visit Indonesia to experience it," Rusmin said, referring to the newly inaugurated Jakarta Bandung high-speed train, partly funded by China.

"This shows how infrastructure development can boost tourism as well," Rusmin said.

Also at the conference, Yunus Karim, head of research at JLL Indonesia, shared a detailed analysis of the Indonesian real estate sector, from residential to hotel markets.

Karim highlighted opportunities for international collaboration, highlighting Indonesia's impressive growth and resilience, particularly post-pandemic, and highlighting government initiatives supporting foreign ownership of residential properties.

Winston Lee, director of Special Projects (Greater China) at PropertyGuru, pointed out the enhanced safety for Chinese nationals in Indonesia, attributing it to the country's stable economic trajectory.

The APPC served as an influential forum, fostering collaboration and knowledge-sharing and consolidating its position as a key event for anyone interested in the burgeoning property markets of Asia, especially Indonesia.

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