Indonesia’s property market becomes increasingly interesting as the government plans for further changes of ownership regulations.
Even if Asians and expats prefer to buy new properties in Southeast Asia, Indonesia is one of a few countries where you have no option other than to buy directly from developers.
In this article, I list some of the biggest property developers in Indonesia, many of them with headquarters in Jakarta:
- Agung Podomoro Land
- Lippo Group
- Sinas Mas Land
- Agung Sedayu Group
- RDTX Group
- Ciputra Group
- Duta Anggada Realty
- Permata Birama Sakti
- PP Properti
- Tokyu Land Indonesia
1. Agung Podomoro Land Tbk PT
Founded by Anton Haliman in 1969, Agung Podomoro Group is one of the top developers in Indonesia, known for building large scale projects.
Its property arm APLP is a relatively new subsidiary founded in 2004 but has already won several awards in the last few years, including the best developer in 2017 by BCI.
So far, they’ve completed more than 70 residential projects.
Property types
APLN develops mostly residential projects including townships, large-scale villages, integrated development projects, and high-rise apartments. They’ve also developed a few industrial parks along with other commercial, retail, and leisure properties.
Current projects
- Orchard Park
- Podomoro Golf
- Metro Park Residence
- Makassar Project
- Borneo Bay Residence
- Future projects
- Pluit City
- SOHO City
- Harco Glodok
- Plaza Kenari Mas
- Vimala Hills
Prices & Areas
a. The price of a house in Podomoro City ranges from around USD 1.5 – 2 million
b. The price of a 630 square meter house in Kuningan City is around USD 3 million
2. Lippo Group
Lippo Group is one of the largest property developers in Indonesia that owns a number of companies in different industries. It’s sometimes referred to as PT Lippo Karawaci Tbk and owns many real estate subsidiaries including Lippo Village, Lippo Homes, Lippo Malls, Cinemaxx and more.
Notably, it’s not only one of the biggest, but one of the oldest property developers in Indonesia, founded in 1950. It’s previously been ranked among the 50 best companies in Indonesia by Forbes.
Lippo Group is owned by Mochtar Riady and his family, he’s currently the 9th richest person in Indonesia. The company was ranked among the 10 best developers in Southeast Asia.
Property types
Lippo Group develops different types of property in Indonesia, including hospitals, universities, malls, hotels, and residential projects. They are known for large-scale residential projects like Lippo Village.
Residential projects include both housing projects and high-rise apartments.
Current projects
- Lippo Cikarang
- Lippo Village
- Tanjung Bunga
- Nine Residence
- Holland Village
- Future projects
- Kemang Village
- The St. Moritz Penthouses & Residences
- City of Tomorrow
- Park View Apartments
Prices & Areas
a. The price of a 287 square meters house in the Lippo Cikarang is around USD 200.000
b. The price of one-bedroom apartment in the Nine Residence is around USD 75.000
c. The price of a two-bedroom apartment in Holland Village is around USD 250.000
3. Sinar Mas Land
Sinar Mas Land is one of the largest residential and commercial property developers in Indonesia. Founded in 1988, it’s also acquired two large property developers, Duta Pertiwi Tbk and Bumi Serpong Damai Tbk, that are currently under its umbrella.
Sinar Mas Land is a subsidiary of one of the largest companies in Indonesia, Sinar Mas Group. The founder and owner of Sinar Mas Group, Eka Tjipta Widjaja, is the second richest person in Indonesia by Forbes.
The company has won many awards, for example, the Special Recognition CSR Award and Best Retail Architecture Design Award for The Breeze Lifestyle Center by Property Report Development Awards in 2016.
In 2017, the CEO of the company, Michael Widjaja won the Real Estate Property Personality of the Year Award. It’s also ranked among the 10 best developers in Southeast Asia.
In addition to Indonesia, they’ve also developed a number of residential projects in China.
Property types
Include all types of residential and commercial projects: City & townships, residential housing projects, apartments and high-rise buildings, commercial & industrial buildings, shopping malls, trade centers, exhibition centers, hotels, golf courses and resorts.
Current projects
- BSD City
- Grand Wisata
- Taman Permata Buana
- Grand City
- South Gate
- The Element
Future projects
Sinar Mas Land is currently planning to develop high-end mixed-use projects in BSD City, Banten, and Tangerang, in a partnership with Mitsubishi.
They’re also planning to invest more than USD 500 million in the development of an integrated smart digital city in BSD in the coming years.
Prices & Areas
a. The price of a 3 bedroom house in Legenda Wisata is around USD 900.000
b. The price of a 3 bedroom apartment with a private lift in Aerium is around USD 3.5 million
c. The price of a 3 bedroom house in Rumah Premium Suasana Asri is around USD 1.4 million
4. Agung Sedayu Group
Agung Sedayu Group is a leading developer based in Jakarta. It was founded in 1971 and develops both residential and commercial projects.
The company was ranked as the best developer in 2017 by Property Report Awards. They’ve also won the Best Luxury Condo Development Award, Best High-End Condo Development award, Best Office Development Award, Best Luxury Hotel Development Award, Best Mixed-Use Development Award, and several other awards.
They’ve also won the Best Property Developer Award for 2017 by Property Guru.
Property types
Include all types of property like residential, office towers, shopping malls, hotels, industrial estates, and resorts. Residential projects mostly include townships, large residential superblocks, and apartment buildings.
Current projects
- Langham Residence (Best Luxury Condo Development Award 2017 by Property Report)
- District 8 Apartment (Best High End Condo Development Award 2017 by Property Report)
- Green Mansion
- Green Lake City
Future projects
- Senayan Golf Residence
- Green Village
- Menara Jakarta
- PIK 2
Prices & Areas
a. The price of a 4 bedroom apartment in Langham Residence is around USD 3.2 million
b. The price of a house in the Green Lake City in Jakarta is around USD 200.000
5. RDTX Group
RDTX is a leading property developer and trading company, founded in 1980. The real estate arm of the RDTX Group is known as Chaitaland Perkasa PT.
Chaitaland Perkasa PT was ranked as the second-best property developer in Indonesia by BCI Asia Top 10 Awards for 2017.
Property types
Chaitaland Perkasa PT mostly develops commercial projects like office buildings for rental purposes. They also develop projects for commercial warehousing but there are few residential projects as well under their name.
Current projects
- Chitaland Tower
- RDTX Tower
- PHE Tower
Future projects
There is no information available about any future residential projects, but there is news saying that RDTX works with DT Group to develop several luxury residential projects.
6. Ciputra Group
Ciputra Group is a major conglomerate that owns many different subsidiaries working in real estate, healthcare, media and telecommunication, brokerage, insurance and finance.
The real estate arm of the Group is called Ciptura Development. Dr. Hc. Ciptura founded the conglomerate in 1981, he’s one of the 25 richest people in Indonesia according to Forbes.
They’ve completed hundreds of projects in almost all major cities of Indonesia, along with a few projects in Vietnam, China, and Cambodia.
Property types
Ciputra builds almost all types of property. Completed projects include residential townships, city blocks, apartment buildings, hotels, malls, mixed-use buildings, resorts, office towers, and other commercial buildings.
So far, they’ve completed more than 75 development projects in 33 different cities which is quite impressive.
Current projects
- Aeroworld 8
- Citra City
- Citra 6
- Citra Indah
- Citra Mitra City Banjarbaru
- Future projects
- Ascott
- CitraLand Jayapura
- CitraLand City Jakarta
Prices & Areas
The price of a house in the Citra City Residence is around USD 60.000.
7. Duta Anggada Realty Tbk PT
Duta Anggada Realty is a popular real estate developer in Indonesia, founded in 1983. The head office of the company is based in Jakarta.
In the last 30 years, they have completed around 25 residential, commercial, and retail projects, and they were ranked as the 4th best developer by BCI Asia Top 10 Awards in 2017.
Property types
Most of the projects developed by Duta Anggada Realty are commercial projects and office buildings, but they’ve developed retail and residential complexes as well.
Residential projects include both apartments and townships.
Current Projects
- Citywalk Sudirman
- Komp. Panjaitan
- Plaza Bapindo
- Plaza Chase
- Plaza Jatinegara
- Future Projects
- Holiday Inn & Suites
- Hotel Bali
- Icon Towers
- La Maison Barito
- Sinarmas MSIG Tower
Prices & Areas
a. The price of an apartment in Citywalk Sudirman is around USD 2 million
b. The price of a house in the Ampera Townhouse in Jakarta is around USD 450.000 – 530.000
8. Permata Birama Sakti PT
Permata Birama Sakti is a growing property developer in Indonesia. They’re relatively new compared to the other companies listed so far, their head office is located in Jakarta.
Permata Birama Sakti won the Best Landscape Architectural Design Award by Property Report in 2017 for its Millennium Centennial Center project. It was also ranked among the top 10 developers in Indonesia in 2017 by BCI Asia Top 10 Awards.
They have completed three commercial projects, two residential apartment projects and two hotels in the last few years.
Current projects
- Sailendra
- Airlangga
Prices & Areas
The price of an apartment in Sailendra, Jakarta is around USD 1.5 million.
9. PP Properti PT
PP Properti PT is another growing new developer that’s based in Jakarta.
Even if PP Properti PT was founded in 2013, it’s a subsidiary of the state-owned PT PP TBK, which was founded in 1953.
The parent company PT PP TBK is involved in all major government buildings and owns eight subsidiaries, all working in the real estate sector.
Property types
Include residential, commercial, hotel, and retail property. Most residential projects are high-rise apartment buildings, along with a few townships and housing complexes.
Current projects
- Grand Kamala Lagoon
- Grand Sungkono Lagoon
- Grand Dharmahusada Lagoon
- Grand Shamaya
- Amartha View
- Gunung Putri Square
Future projects
- Palm Park
- Amartha View Tower 2
- The Alton Apartments Tower 2 and 3
- Victoria GKL Tower
- Planned apartment projects in Cibubur, Jogya, Kertajati, and Paragon Semarang
Prices & Areas
a. The price of an apartment in the Alton in Tembalang, Semarang is around USD 300.000
b. The price of a one-bedroom apartment in the Grand Kamala Lagoon in Kalimalang, Bekasi is around USD 300.000
10. Tokyu Land Indonesia PT
Tokyu Land Indonesia is a subsidiary of the Tokyu Fudosan Group. The group owns more than 100 subsidiaries and has around 19000 employees, which speaks for itself.
As you can probably hear by its name, it’s a Japan-based company, but Tokyu Land Indonesia PT focuses only on the development of property in Indonesia. They’ve won the award for being the Best Foreign Property Developer in Indonesia, by Golden Property Awards.
Tokyu Land Corporation was established in 1953, but the subsidiary wasn’t founded until 1975.
Property types
Most of their projects are residential and mostly high-rise condominium buildings. They’ve also developed some office buildings and hotels.
Current projects
- Branz Simatupang
- Branz BSD
- Setiabudi Sky Garden
- Bojong Kulur
- AXIA South Cikarang
Prices & areas
a. The price of a condo in the Branz Simatupang in Jakarta is around USD 1.9 million
b. The price of a condo in the Branz BSD in the BSD City is around USD 900.000
I hope you found this article useful and interesting.
I also recommend you to read my separate guide that explains how you can buy property as a foreigner in Indonesia. Including everything from regulations to foreign ownership, property taxes, where you should buy property in Indonesia, and more.