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Qatari investment company to help Indonesia build 1m homes

By Chris Hamill-Stewart
Qatari Indonesia homes Abdulaziz Al Thani Maruarar Sirai Qilaa International Group
Sheikh Abdulaziz bin Abdulrahman Al Thani, chairman of Qilaa International Group, with Indonesia's housing minister Maruarar Sirait
  • MoU signed with housing minister
  • Target is urban lower middle class
  • Value of deal not revealed

The Qatari investment company Qilaa International Group has signed an agreement with Indonesia’s government to build one million affordable homes.

Sheikh Abdulaziz bin Abdulrahman Al Thani, chairman of Qilaa International Group, signed the memorandum of understanding at Indonesia’s presidential palace alongside the country’s housing minister Maruarar Sirait.

Qilaa International Group will finance and manage the project, while the land for the homes will be provided by the Indonesian government.

The value of the deal has not been made public.

“We prioritise the lower middle class who live in the cities,” Maruarar said, explaining who the homes are for.

A key part of Indonesian president Prabowo Subianto’s election pledges was to build 15 million new homes in the country.

Abu Dhabi and Qatar have promised to support that plan. In December last year, Prabowo said that the Qatari government had committed to financing five million homes in Indonesia, while Abu Dhabi had pledged its support for a further million.

Also last month, Kuwait’s state-owned Kuwait Foreign Petroleum Exploration Company announced plans to expand its operations in Indonesia, which is the world’s fourth-largest country by population.

The company is conducting a study on the Natuna D-Alpha gas block. One of the biggest resources in the world, the concession has an estimated 230 trillion cubic feet of gas.

In October, a road toll platform backed by a subsidiary of the Abu Dhabi Investment Authority (Adia) invested in a new section of the 138km trans-Sumatra toll road that is being built across the Indonesian island of Sumatra, in a project with a combined enterprise value of around $1.4 billion.

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