State investment entity Danantara is preparing to consolidate state-owned enterprises operating in the property sector as part of a rescue and restructuring effort for troubled developers. The plan is also aimed at unlocking a large backlog of unsold public housing inventory held by SOE property units. Danantara Chief Operating Officer Dony Oskaria announced the plan in Jakarta on July 31 and said the agency wants to revamp state property developers through what he described as a corporate-driven approach.
According to Dony, the Danantara Housing initiative is intended to consolidate all of the group’s property companies at a time when those companies are not in good condition. He said Danantara will handle the financial condition of each state developer individually. That work includes debt restructuring under the Suspension of Debt Payment Obligations, or PKPU, process, with PP Properti cited as an example, as well as the handling of asset impairments.
The next stage, Dony said, would come after the state-owned property developers achieve financial stability. At that point, Danantara plans to calculate and compile total unsold property inventory across all units so that the homes and other assets can be marketed and distributed through a unified system. He said the goal is to let people access all inventory owned by SOE property companies, while also pairing the offering with financing products rather than selling units alone.
To support the scheme, Dony said state-owned banks that are part of the Association of State-Owned Banks, or Himbara, will develop lower-cost mortgage products. The stated purpose is to make housing credit more accessible to the public. That financing component is central to the broader Danantara Housing effort described in the report, which links inventory clearance with easier access to mortgages for buyers.
Earlier, Investment and Downstreaming Minister and Head of BKPM, who is also Danantara CEO, Rosan Roeslani, said the Danantara Housing initiative is designed to help state developers sell completed houses and apartments that remain unabsorbed by the market. The report says buyers will be able to access unsold state-built homes with more competitive interest rates and more flexible payment structures. In that design, the initiative is meant both to expand access to homeownership and to reduce the inventory backlog weighing on state developers.
Source note
Read the official announcement for the underlying details.