asset class and of this market. Currently there is a backlog of 10 million houses in Indonesia. Most if not all of this backlog is demand for affordable housing. Unlike other big real estate developers in Indonesia who focus in providing products for the high-end market, we are the only big player in the affordable sector, and this is our specialty. Our breadth and deep focus in this market allow us to achieve high efficiency in construction and operating at a much lower cost compare to others. This is something that we are proud of and provide a strong barrier of entry.

We believe long-term value in affordable real estate market is created by investing close to main public transport, transit and infrastructure allowing easy access to the city center. Early recognition of demographic and economic inflection points along the path of progress further enhances returns. Our land acquisition team with a 100 years of experience combined, specialized in identifying areas and locations suited for this type of development.

We also believe that we are guest in which the area we operate in by giving back to communities in which we invest in. Whenever possible, we provide opportunities to our community by training and utilizing the local workforce.