Depok Dream Village
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PT Ethis Indo Asia, together with PT TAG have secured 5Ha of land in a good location at a good price in the popular satellite town of Depok, Greater Jakarta for the Depok Dream Village.
Depok Dream Village is a game-changer for Affordable housing in Jakarta. It will be the first high-quality, full-facility subsidized low-rise Condo estate. It qualifies under the government subsidized housing program, where low-income households are able to pay only 1% downpayment, and thereafter have a longer financing term at a subsidized markup rate with Bank BTN Syariah.
Phase 1: 500 Units
Total Crowdfunding: SGD $1 million
Phase 1 Development Value: SGD $8.6 million
If for investors who are investing upwards of S$50,000, you qualify for higher returns from this project, please click here.
Priority Investment Application
Cluster Condos are a hot new concept in satellite towns around Jakarta, and recent projects in other towns for the middle-class have sold out very quickly.
Depok Dream Village is eco-friendly, modern and intelligently designed. There will be an emphasis on beautiful landscapes, recreational and sports facilities and child-friendly play areas to give lower-income families the opportunity to experience a higher quality of life, at prices they can afford.
The developers have secured this land at 30% below market. Crowdfunding investment will be used to make further land payments, process legality and permits, develop land infrastructure and also to build the first batch of 10 blocks with 500 units.
DEPOK is a popular satellite town. Prices have surged in the past 5 years, and are starting to rise out of reach. Units are priced from IDR150mill (S$15,600), half the price of other apartments selling at above IDR300mill (S$31,000).
We will sell the units of the first block through workers’ unions and large companies for their workers. The developers have a good relationship already with Bank BTN Syariah. The bank will facilitate financing for the buyers, and pay the developers in full for every unit fully constructed. Part of this payment will go to investors for their exit, and the remainder will be used to continue further development.
The development profits of the project will be shared with Ethis Crowd-investors, at an agreed percentage stipulated in your agreement. The projected profits used for this calculation are conservative, and based on a pricing strategy based on today’s market. Prices typically increase over time, which may result in higher-than-projected profits. However, should there be any delays, the profit-share for investors will not increase.
- Exchange Rate
Any exchange rate changes will be absorbed by the developer. You invest and exit in Singapore Dollars.
- Timeframe & Delays
We have included a buffer of 6 months to our targets, in case of unforeseen delays.
The timeframe is based on traditional construction methods. We are in the process of adopting new low-cost methods to cut down construction time by 15 to 25%.
All agreements are drafted in Singapore, based on Singapore Law. You will sign directly with PT Ethis, the project owner to have legal rights to profit-sharing. Investors do not own the real estate being developed, but fixed asset provides security.
PT Ethis is our associated Singapore-owned developer that will handle the risk management and financial management for this project. Its director, Ronald Wijaya is the Project Director. All agreements and payments will be via PT Ethis. PT Ethis is currently also managing two Affordable Housing estates with a total of 2,200 landed units, and has an authorized capital of IDR15billion (S$1.55million) .
PT Tedea Alays Group (PT TAG) brings together affiliated companies with excellent technical abilities and outstanding development track record. The partners of PT TAG have developed, constructed and managed entire malls, office towers, commercial complexes with more than 1,500 shop units, as well as residential estates over the past decade. It is headed by business leader and highly respected religious teacher Pak Haji Alay.