Tunas Group provides Ease of Mortgage at Garden Avenue Residence In Coorperation with Bank Mandiri

Thursday, June 22, 2023, PT Rancha Propertindo (Tunas Group) as the developer of the Garden Avenue Residence integrated residential area officially signed a collaboration with PT Bank Mandiri (Persero) Tbk. This strategic step was taken to provide convenience in the process of applying for a Home Ownership Credit (KPR) for each residential unit marketed by Garden Avenue Residence. The event took place at the head office of Bank Mandiri Batam branch which is located at Jl. Imam Bonjol, Kec. Lubuk Baja, Batam City. The signing of the collaboration was attended by representatives of the board of directors and signed by Albert Dessely as Director of PT Rancha Propertindo and Agus Kurniawan as Area Head of Bank Mandiri Batam branch.

Tunas Group provides Ease of Mortgage at Garden Avenue Residence In Coorperation with Bank Mandiri

According to data from World Market Research (WMR), demand for home property after the COVID-19 pandemic dominates at 55%, with the majority of buyers coming from the 25-45 age group. The millennial market is promising for the property business as currently around 33% of Indonesia's population are millennials. The estimated buyer market profile shows that those with an income of Rp8-10 million per month have the ability to buy a house with a price between Rp500 million and Rp1 billion. Then for the payment method, the need for payment schemes through mortgages is still high. The Bank Indonesia (BI) survey at the end of 2022, which refers to the Weighted Net Balance (WNB), showed an increase in the realization of KPR/KPA distribution of 77.9% in the fourth quarter of 2022. This figure increased compared to the previous quarter and became the highest record since 2019.

Home payment with KPR scheme is the best choice for first home buyers or millennials, because they do not need to provide large funds at the beginning to own a house and can be a long-term investment without disrupting financial plans. Through the KPR partnership, Bank Mandiri offers various facilities for customers, such as competitive interest rates, easy application process, low down payment, and mortgage installment tenors of up to 25 years.

Tunas Group provides Ease of Mortgage at Garden Avenue Residence In Coorperation with Bank Mandiri

Tunas Group as the developer of the Garden Avenue Residence integrated residential area hopes that through KPR cooperation with Bank Mandiri, they can provide the best solution for consumers and the millennial segment in owning high-value property products and owning a dream home safely. This collaboration is expected to provide wider access for the community to own their dream home by utilizing the available mortgage facilities.

Through this collaboration, PT Bank Mandiri (Persero) Tbk and PT Rancha Propertindo (Tunas Group) are committed to developing and advancing the residential property industry in Indonesia, especially in Batam City, and providing innovative and affordable financial services to the community. This collaboration is also in line with the government's efforts to encourage a sustainable property sector and contribute to national economic growth. It is hoped that this collaboration between Bank Mandiri and PT Rancha Propertindo will be an example of good synergy between the banking and property sectors in supporting the growth of the property industry in Indonesia.