The 69th World Real Estate Federation Congress (FIABCI) held in Dubai recently has officially selected Bali as the host of the group's Global Business Summit 2018 from December 7-10.

According to Nusa Bali, Chairman of the Board of Directors of the Center of Real Estate Companies of Indonesia (DPP REI), Soelaeman Soemawinata, announced there would be two interesting themes for the event: affordable housing and sustainable tourism development.

These are two issues that have particular significance for emerging nations. President Jokowi's administration has been keen to promote both, which is why Soelaeman has officially invited the President to open the event and make a keynote speech.

The development of "10 New Bali's" and the Mandalika project in Lombok are good examples of how the government is promoting the initiative to make tourism the country's leading foreign exchange earner. Indonesia's Minister of Tourism Arief Yahya has suggested combining tourism development with other industries, such as property, would likely attract more local investors, and it's this approach that seems to be gaining traction.

"Of the 68 countries that are members of FIABCI, it is likely that Indonesia is the only country whose government has focused on low-cost housing by prioritizing the private sector," said Soelaeman. He added many countries are looking to the Indonesian model and he has received requests to present this affordable housing initiative in other countries with the hope it can be adapted and applied elsewhere.

Gapura Bali reported in April that there could be a game changing digital solution to the Million Homes Programme (PSR) for low-income families by using 3D printing technology, something President Jokowi believes could be revolutionary because it would cut the costs down by around a third compared to traditional construction approaches.

This will be the first time in 68 years that FIABCI has been scheduled to take place outside of continental Europe.  Around 1,200-1,500 real estate and industry supporters are expected to attend, of which more than half will be foreign investors.

Sources: Nusa Bali, Tribun News

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