Jakarta - Chairman of the Indonesian Chamber of Commerce and Industry (Kadin) Anindya Novyan Bakrie, underscored the importance of synergy between the government and the private sector in realizing the 3 Million Housing Program one of the top priorities of President Prabowo Subianto and Vice President Gibran Rakabuming Raka’s administration.

Anindya, widely known as Anin, conveyed this message during the National Housing Solidarity Meeting and Symposium titled "Housing: The Engine of National Growth," held at Balai Sarbini, Lippo Mall Nusantara, Jakarta, on Tuesday evening (September 16, 2025).

He emphasized that the housing sector is not merely about fulfilling basic human needs but is also a key driver of the national economy.

“The construction sector, including housing, employs 8.1 million people equivalent to 6% of Indonesia’s total workforce. This makes it the fourth-largest employment sector after agriculture, trade, and manufacturing,” Anin explained.

He elaborated that the construction of a single housing unit can absorb 5 to 6 direct workers and stimulate more than 140 related industries, ranging from cement and steel to timber and transportation services.

However, Anin also highlighted a major challenge facing the sector: financing. High capital costs and interest rates continue to burden developers and hinder growth.

“When interest rates are too high, developers are discouraged from building homes. Contractors struggle to fund projects, and suppliers of building materials cannot scale up production,” he said.

To address this, Anin welcomed the government’s initiative to apply subsidized interest rate schemes particularly through the People’s Business Credit (KUR) program for the housing sector, calling it a highly strategic move.

“With a budget allocation of IDR 130 trillion this year, the housing KUR program has the potential to create jobs for 4 to 5 million construction workers. If we consider the backward linkage to supporting industries such as cement, steel, ceramics, furniture, and logistics, the figure could reach 9 million jobs,” he stated.

Beyond financing, Anin also pointed out challenges such as low financial literacy and lack of awareness about the program.

In response, he said Kadin is partnering with the Ministry of Housing and Settlements (PKP) and BPI Danantara to promote and disseminate housing KUR solutions, especially among MSMEs within the public housing ecosystem.

“We are calling on all stakeholders from developers and contractors to building material vendors to be ready to join this program,” he added.

Anin also extended his appreciation to PT Bank Nationalnobu Tbk (Nobu Bank) for its initiative and collaboration in supporting the public housing financing ecosystem.

He further described this major initiative as a reflection of the "Indonesia Incorporated" vision promoted by President Prabowo Subianto, where all elements of the nation including the business sector—must work together and grow collectively.

“Let us realize this spirit of collaboration between the government and the business sector to expand access to housing credit, support MSMEs, and collectively meet the need for decent and affordable housing for the people,” Anin concluded.

Minister of Housing and Settlements Maruarar Sirait echoed the importance of Kadin’s support, particularly in the socialization and implementation of the housing KUR program.

“Thank you to Kadin for supporting the outreach of the housing KUR initiative. Our key challenge is ensuring its uptake how we can ensure absorption in the next 3 to 4 months,” said Maruarar, popularly known as Ara.

He noted that the government has already introduced several strategic policies to accelerate the program, including lowering Bank Indonesia’s reserve requirement ratio from 5% to 4%, and launching a burden-sharing scheme worth IDR 130 trillion.

“Our challenge is ensuring high quality absorption. So that institutions like Danantara and banks have the confidence that this sector is ready to support economic growth and job creation,” Ara explained.

Minister of Investment and Downstreaming/Head of the Investment Coordinating Board (BKPM), Rosan Roeslani, stressed that the success of the program hinges on the courage and readiness of the private sector to manage the available funding.

“The key to this program’s success lies in the private sector. It must be able to absorb, manage, and utilize the funds wisely and boldly for development,” Rosan stated.

Ferry Irawan, Deputy for SOE Business Management and Development at the Coordinating Ministry for Economic Affairs, emphasized the housing sector’s critical role in supporting President Prabowo’s ambitious target of achieving 8% economic growth within five years.

“In 2025, the growth target is 5.2%, rising to 5.4% in 2026 and beyond. We hope to reach 8% within the next five years as planned,” said Ferry, representing Coordinating Minister for Economic Affairs Airlangga Hartarto.

From the banking side, President Director of Nobu Bank, Suhaimin Johan, stated that the bank has already begun preparations for the implementation of the housing KUR program. He urged all relevant stakeholders to start developing their project pipelines.

“Start the process now. Prepare, seize the opportunities, and build your project pipelines. That way, once the housing KUR is launched, transactions can close immediately,” he advised.

Also present at the event were senior figures from Kadin Indonesia, including James T. Riady Coordinating Vice Chairman for Foreign Affairs, Mulyadi Jayabaya Coordinating Vice Chairman for Food Affairs, Carmelita Hartoto Coordinating Vice Chairman for Infrastructure and Regional Development, Thomas Jusman Vice Chairman for Strategic Infrastructure and Rural & Transmigration Development, Chandra Tirta Wijaya Acting Head of Kadin's National Housing Solidarity Task Force, Pipin Moch Saiful Arifin Executive Director of Kadin Indonesia Secretariat, Mulya Amri Chairman of the Kadin Indonesia Institute.