Indonesia has signed a substantial agreement with Qatar to build one million affordable homes, a huge step forward in President Prabowo Subianto’s ambitious three-million-housing program. Housing Minister Maruarar Sirait and Sheikh Abdulaziz bin Abdulrahman Al Thani, head of Qilaa International Group, signed a Memorandum of Understanding (MoU) in the presidential palace on Wednesday, with President Prabowo present.
Housing Minister Sirait noted that the project focuses on lower-middle-class individuals in metropolitan areas, meeting the growing demand for affordable housing in cities. The Indonesian government would supply land for the project, with Qatari investors financing and building the dwellings. Fahri Hamzah, Deputy Minister of Housing, confirmed the Qatari investment funded by the royal family but did not specify the amount of funding.
Hamzah stated that subsequent conversations would centre on land distribution, permissions, and technical issues. The scheme will include state-owned firms and private sector partners, with housing locations based on locally approved property.
Sirait indicated that overseas investors are becoming more interested in the scheme, with intentions to use confiscated assets from corruption trials for housing developments. To encourage growth, these assets will be legalized as state property.
