JAKARTA, June 26 (Xinhua) -- The Indonesian government is collaborating with Qatar's Qilaa International Group to build 1 million affordable housing units in the country, as part of President Prabowo Subianto's plan to develop 1 million new urban housing units each year, primarily in the form of vertical housing.
Indonesia's Housing and Settlement Minister Maruarar Sirait has signed a Memorandum of Understanding with Sheikh Abdulaziz bin Abdulrahman Al Thani, chairman of the Qilaa International Group. The signing took place at the Presidential Palace in Jakarta, witnessed by Prabowo.
During a meeting between the two sides, Sheikh Abdulaziz said on Thursday that around 50,000 housing units will be built in the initial phase with an estimated value of 2.5 billion U.S. dollars. The completion of this first phase is targeted within two years.
He added that a second phase of development is also planned to include another 50,000 units.
To support the project, land acquisition and permit processing are currently underway, which Sheikh Abdulaziz acknowledged may take some time before construction begins. ■
