Indonesia, the Trumps are coming
Indonesia got a visit from New York property behemoth the Trump Organization this week, with its executive vice president and heir to the famous name Donald Trump Jr. impressed at what he sees as a “potential property gold mine” as the regional economy grows.
Donald Jr. was on a research mission to Indonesia with plans to set up a base, holding talks with local property interests Lippo Group and Bakrie Group. While he said it was too early to discuss numbers or partnerships, he confessed that the scene in Indonesia was “totally different” to what he imagined it would be, with a growing wealthy class and a “robust domestic market forming”.
In this interview with the Jakarta Globe, Trump also said his organization was “very bullish” about Asia in general and that they would go wherever wealthy classes were growing the fastest. The Trump Organization, an American institution in the real estate, retail, commercial property, hotel and golf worlds, has been looking outside North America to Asia and Eastern Europe as its home market still struggles to regain confidence after the 2008 financial crisis.
As for Indonesia’s growing number of wealthy, an additional 7 million were joining the middle classes every year and the combined wealth of the country’s 150 richest individuals jumped 75% from last year to US$107.9 billion. The national per capita income, currently $3005 a year, should reach $5000 a year on current projections.
source & articles: The Jakarta Globe
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