Business · Companies · 14 hrs ago
Repower Asia signs deal to develop affordable housing in Bogor
Repower Asia’s controlled subsidiary signed a housing deal with Riscon Group for Grand Riscon Darmaga in Leuwiliang, Bogor, West Java.
The project will include homes for lower-income buyers as well as commercial units.
The subsidiary is entitled to 57% of net profit, while Riscon Group will receive 43%; the agreement runs for two years and can be extended by mutual consent.
Indonesia’s government plans to raise the monthly income limit for subsidised-home buyers to Rp17 million, but developers are still waiting for detailed rules.
A higher limit could bring more middle-income families into the market, while longer subsidised mortgage terms are also intended to make monthly payments more affordable.
West Java has had the country’s highest number of realised subsidised housing loans, giving the Bogor project access to a large potential market.
The deal gives Repower a potential share of that demand, though the sources do not say when construction or sales will begin.
Repower Asia Indonesia, through its controlled subsidiary, signed a definitive operating agreement with Riscon Group for the Grand Riscon Darmaga housing project in Bogor.
The project in Leuwiliang, West Java, will include homes for low-income households and commercial units.
Repower’s subsidiary is entitled to 57% of the project’s net profit, while Riscon Group is entitled to 43%.
The agreement runs for two years and can be extended by mutual agreement.
- Who
- Repower Asia Indonesia, through its controlled subsidiary PT Repower Global Sinergitama, and PT Ardias Bayu Pratama, known as Riscon Group.
- What
- They signed a definitive operating agreement to develop the Grand Riscon Darmaga housing project, including affordable homes and commercial units.
- When
- The agreement was reported on October 14, 2026. The signing date is Not stated.
- Where
- Leuwiliang, Bogor regency, West Java, Indonesia.
- Why
- The agreement advances a housing project and gives Repower an opportunity to expand its market segment and contribute to its consolidated financial performance.
This story does not have two clearly opposing sides.
Repower Asia and Riscon Group agreed to a memorandum of understanding.
CNBC Indonesia reported that the parties had signed a definitive operating agreement through a non-legal-entity joint operation.
- Project
- Grand Riscon Darmaga
- Location
- Leuwiliang, Bogor regency, West Java
- Repower subsidiary’s share of net profit
- 57%
- Riscon Group’s share of net profit
- 43%
- Agreement term
- Two years, with an extension possible by mutual agreement
What people are saying
This will expand the subsidized housing market many times over.