January 10, 2018

Intiland and Regional Developers Hold Groundbreaking Ceremony of Public Housing Development Project

Pacitan (10/1) – Intiland along with several regional developers, launched their public housing development project in support of One Million Homes Program.

The joint developers held the groundbreaking ceremony marked the beginning of the development
program, which will build home units available with Home Financing Liquidity Facility (FLPP). The
ceremony, held on Wednesday, January 10, 2018 in Pacitan, East Java, at the site of the Puri Permata
Indah residential area.

The groundbreaking ceremony was attended by representatives from each developer, contractors and
other partners. Representing Intiland was Intiland’s corporate secretary, Theresia Rustandi. Other
attendees include Tomi Wistan and Oka Moerod, president director and president commissioner of PT
Menara Tinggi Bertumbuh, respectively. Also attending the event were the 2011-2014 commissariat of
Indonesian Real Estate Association (REI), Solo Raya chapter, Yulianto Kusumo; and the Motivator for
the Development of Low-income Families Houses, Dadang Juhro.

Hendro S. Gondokusumo, vice chairman of the Property Sector of Indonesian Chamber of Commerce
(KADIN) said such a joint venture could help build synergy between national and regional property
developers. KADIN as the parent organization hopes partnership programs can become a model and be
expanded, involving more developers that join REI as well as other property developer associations.

“Hopefully, Cooperation Partnership program continues to gain momentum, can involve many
national and regional developers, and ensure the success of One Million Homes program,” said Hendro
S. Gondokusumo, who is also president director and chief executive officer of PT Intiland Development

The start of the construction program is the follow up of the cooperation agreement between Intiland
and several regional developers reached in October 2017. The cooperation partnership program involves Intiland and three regional property developers: PT Menara Tinggi Bertumbuh (MTB), PT Cipta
Griya Sriwijaya (CGS) and PT Multi Bangun Realtindo (MBR).

President Director of MTB, Tomi Wistan said within the framework of the cooperation agreement his
company would develop new houses in the second phase of Puri Permata Indah development project.
His party has established a collaboration which engages and empowers local businesses, whose
business scopes all this time have been concentrated around Pacitan region, comprising Solo,
Yogyakarta and East Java.

“We believe with this collaboration and joint venture with local businesses, the development of this
project will be successful. We see that local businesses have a lot of potentials, as well as experience,
resources, networking, and market knowledge,” Tomi said.

One of the businesses that join the venture, PT Citra Kahuripan Utama, is a local property contractor.
The company also has a marketing network under Somerset Property banner.

President Director of PT Citra Kahuripan Utama, Anthony expressed his happiness with the
opportunity to join this partnership program. He said that the partnership cooperation scheme could
act as a good example for further development.

“This cooperation partnership program provides us, local businesses, experience and knowledge. This
can help us to learn and grow,” Anthony said. 

The partnership program is designed to help improve the quality of life of the people in some areas in
Indonesia. All parties are committed and share mutual awareness of the need to provide solution to
decent housing problem in the regions.

Puri Permata Indah is a four-hectare area development project Intiland has been developing since 2007
partnering with local contractors. The company is currently finishing the first phase of the
development on a three-hectare land.

MTB plans to build 118 house units with the selling price of Rp130 million per unit under FLPP. The
houses will occupy a flood-free area of one hectare, only five kilometers from the center of the city of

The partnership program with local developers gains a full support from the Property Department of
Indonesian Chamber of Commerce (KADIN). The program is seen as one of the solutions to the issue of national housing backlog, as well as a way to accommodate the government-designed balanced
housing development initiative.***