Intiland to Introduce Upper-Middle Class Residential in Surabaya

By Editorial Team 11/05/2023
property investors
Summary

Property developer PT Intiland Development Tbk (DILD) is set to launch several new residential projects in Surabaya, East Java, this year. The company aims to boost demand in the property market, particularly in the residential sector.

Harto Laksono, Intiland’s director for the Surabaya region, stated that the company is currently developing several housing projects in Surabaya. These include Amesta Living and a second residential project in Graha Natura, as well as the continuation of the Tierra Surabaya project.

“We have begun developing projects for the upper-middle class market following the increasing demand in this segment. After the pandemic, houses sold at less than Rp 1 billion had lured public attention,” Harto said. In these projects, Intiland will offer houses priced between Rp 2 billion and Rp 4 billion per unit.

Houses with below Rp 1 billion price was in high demand. On the other hand, the middle- to upper-class market segment is driven by demand for investment, including secondary properties.

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