"There are a number of foreign developers eyeing property projects in the country in cooperation with local real estate companies, chairman of the Central Java branch of of REI Prijanto said here on Monday.
In Central Java alone there are a number of foreign investors showing interest in doing business in the property sector, he said.
The Kendal industrial estate was built by Jababeka, a local developer and a partner from Singapore, he cited.
"They also plan to build a housing complex for workers," he added.
A Chinese investor also plans to build a housing complex and a number of factories in Central Java, he added.
He said the interest shown by foreign real estate companies in the country followed the implementation of the Asean Economic Community .
He predicted the prices of property buildings would rise with foreign companies entering the business sector.
Consumers, therefore, should not delay plans to buy houses as the prices would rise any time, he said.
He said the impact is positive of the foreign real estate companies expanding operation in the country .(*)
Editor: Heru Purwanto
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