INDONESIA PROPERTY

10 December 2008
Most of the property developments in Indonesia are really terrible ! I can say 95% from all of the property developers in Indonesia have 3 common diseases :

1) Always ignoring the quality of the building and the neighborhood ! They always cut down the budgets for almost anything ! Why ? Because most of the property developers in Indonesia come from various trading business. So they run the property businesses as if they are running a store....

2) Always late in hand-over the building ! If they promise you that they will hand-over the building in 12 months, be ready to get your property in no less than 18 months !

3) The cash flow is unbelievably messy ! Why ? Because every dime that customers pay (the booking fees, and down payments) will be used to purchase another vacant land as their assets, or sometimes the BOD will buy themselves .......... new cars ! Then they will put the land certificates as guarantees so they can finance the projects by other peoples money (banks). Thats not the end......., sometimes they even use the money that they took from the bank loans to finance different business ! How great that is..... ^_^

Ive been working in property businesses in Indonesia and Papua New Guinea (Malaysian developer) since 1993, and I am so tired of watching these things happen over and over again !

I wish that I develop my own property development.. I have the skills, knowledge, experiences, and idealism.. But unfortunately I didnt come from a rich family....

So if you ask me "which is the best property in Indonesia ??". I will say "lets build our own development !!"