"For the initial phase, we estimate around 50 thousand units (flats),'' the company's chairman, Sheikh Abdul Aziz Al Thani, stated in Jakarta on Thursday.
He affirmed that the second phase is also planned to include around 50 thousand flats.
Currently, his side is working to secure land and permits for the construction of the flats. The first phase of the development plan is estimated to require an investment of around US$2.5 billion.
Al Thani noted that obtaining land and permits will take time, but he is optimistic about completing the first phase of construction of 50 thousand flats within two years.
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"We thank Indonesian President Prabowo Subianto for his support for this project. President Prabowo genuinely wants to help low-income people and build affordable housing for them. We will start now, and we are serious," he affirmed.
He also revealed that the company aims not only to build towers, houses, and apartments but also to create communities.
The community will not only have access to affordable flats but also to various facilities such as swimming pools, schools, play areas, and all other amenities that can be obtained.
Indonesia and Qatar have agreed to cooperate and sign a memorandum of understanding (MoU) in the housing sector to fund one million homes for low-income people (MBR).
The signing was witnessed by President Prabowo and was carried out by Minister of Housing and Settlement Areas (PKP) Maruarar Sirait and Qatari investor Sheikh Abdul Aziz Al Thani in Jakarta.
Related news: RI to build one million vertical homes with Qatari investment
Translator: Aji Cakti, Cindy Frishanti Octavia
Editor: Rahmad Nasution
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