A Package to Boost the Property Business

FOR Taufik Hendra Kusuma, the fifth economic policy package gave a new breath that he had been awaiting for a long time. Announced by the government on Thursday two weeks ago, the policy is expected to stimulate the property business once facing its worst time. "Many opportunities can be explored if the policy is truly implemented," said Taufik on Friday two weeks ago.

According to the director of finance and resources of Hutama Karya Realtindo, there are two features in the fifth package that can contribute to property business revival. First, it is the revaluation of assets allowed to state-owned enterprises (SOEs) and private companies. The government pledges to provide 3 to 6 percent tax rate reduction facilities for companies submitting revaluation proposals until the end of next year. The second is the elimination of double taxation for real estate investment trusts or REITs.