New Condominium Law in Indonesia - Developer's Perspectivce

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The new condominium law of Indonesia has been issued on the last November 2011. This new law introduces two concepts i.e. condominium and strata title. There are some material changes that need to be noted by the developers of commercial condominium. These changes cover the requirements prior to implementation of marketing activity, requirements prior to signing of Conditional Sale and Purchase Agreement, obligation to provide public condominium 20% of total building area of commercial condominium, and criminal sanctions that can be applied to the developer if they breach the condominium law.

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Published In: Commercial Real Estate Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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