The Korea Housing Builders Association announced that on May 17, Chairman Jung Wonjoo, along with several association executives and representatives of member companies, formed an 'Overseas Housing Business Investment Delegation' and traveled to Indonesia to survey the local market.
This initiative aims to find a breakthrough for the saturated domestic housing construction market. The association expects that this will provide practical support to member companies interested in overseas housing projects. Previously, in the previous year, an overseas business delegation visited Vietnam.
Executives of the Korea Housing Builders Association and representatives of member companies are taking a commemorative photo with executives of Sinar Mas Land, Indonesia's largest development company. Provided by the Housing Builders Association
Indonesia is rich in resources and is undertaking large-scale development projects, including relocating its capital. During the visit, the delegation held a meeting with Colliers, one of the world's top three real estate consulting firms. They also visited the sites of the BSD New Town and Deltamas New Town development projects, both led by Sinar Mas Land, Indonesia's largest real estate development company.
On May 20, the delegation moved to Bandung, Indonesia's fourth-largest city, and visited a development site run by AG Group, which ranks 15th among local developers. They met with prominent political and business figures to request active cooperation for Korean housing construction companies seeking to enter the Indonesian market. Chairman Jung Wonjoo stated, "We will do our utmost to thoroughly assess the conditions for entering the local housing market and provide more practical and accurate information to member companies with a strong interest in the Indonesian housing business."
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