Jakarta. Joko Suranto, the newly-elected chairman of Real Estate Indonesia (REI), has pledged to establish a strategic planning agency aimed at identifying challenges within the industry and providing long-term solutions with the cooperation of the government and other stakeholders.

Joko was the sole candidate for the REI chairmanship and was elected by acclamation during the national congress held in Jakarta on Thursday, replacing Paulus Totok Lusida.

The proposed agency will house a dedicated research team and a comprehensive database system focused on the property sector, enabling more accurate identification of issues, such as the backlog in public housing.

"We need to pinpoint where the backlog of 12.8 million houses has occurred," Joko said, referring to government data.

Under his leadership, REI will strive to advocate for the legislation of a specialized law on the national property sector, as well as the establishment of an Urban Development Ministry, according to Joko.

"Additionally, I will promote closer synergy and collaboration among REI members, particularly fostering cooperation between major developers and their smaller counterparts," he said. "We must enhance access to financial institutions and alternative financing options for REI members to reduce dependency on a single bank."

Joko, 54, hails from a village in Grobogan Regency, Central Java, where he notably funded the resurfacing of public roads from his own funds, earning him the moniker "crazy rich from Grobogan."

He holds a degree from the law school at March 11 University in Solo and completed a master's degree in business law at Parahyangan Catholic University in Bandung.

His business portfolio encompasses 35 property projects, ranging from affordable housing to upscale real estate in West Java and West Sumatra.