HOW TO FINANCE THE CONSTRUCTION COST FOR BUILDING A 30-STOREY APARTMENT?

[Alvin Joseph]

Hi all,

I'm currently having a project of building a 30-storey apartment in Tangerang, Indonesia. We owned the land already (around 70,000 sq ft), but having trouble finding local banks financing our ($30 million) construction loan for back up. A little bit info about Tangerang/Jakarta, it is the capital city of Indonesia with population of 250 million people, whereby this provides a rare opportunity of huge potential domestic market, and with still under-supply of housing. IMF/World bank still predicts that Indonesian Economy will still continue to grow at about 5,2% for this year 2015. Another thing about Jakarta-Indonesia is the city where President Obama used to live & go to grade school when he was young :-)

Any advice on how to tap to global property investors? Always make me wonder how some people are capable of building so many high-rise hotels and buildings around the world? They never seems to meet a dead-end though. LOL

Thank you in advance for your advice .

Regards,

-Al in Indonesia