The recent banking crisis that started with the collapse of three regional American banks (in the second week of March 2023) – and spread further when Credit Suisse was on the brink of collapse before a forced take-over by UBS Group – can be linked to the tech sector (although we emphasize that weak corporate management at the banks in combination with central banks’ ultra-low interest rate environment and the huge quantities of free money that were pumped into economies are the primary reasons for the recent banking crisis).

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Indonesia is the largest island nation in the world, home to over 270 million people. Located in Southeast Asia, Indonesia is known for its diverse and rich culture and stunning natural beauty. Indonesia has something for everyone, from bustling cities to the peaceful countryside. The country is also home to a rapidly growing economy, making it an attractive destination for tourists and investors. With its rich history, vibrant culture, and stunning natural beauty, Indonesia is a must-visit destination for anyone looking to experience Asia's best.

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Just like most other sectors (with the notable exceptions of the digital economy and telecommunications sector) the property sector of Indonesia was heavily affected by the COVID-19 crisis in 2020-2021. Now this crisis has passed, it is interesting to take a look at the state of Indonesia’s property sector.

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On 24 February 2023 Pertamina Geothermal Energy made its trading debut on the Indonesia Stock Exchange (IDX) after concluding its initial public offering (IPO) – in which it sold 10.35 billion shares (which is equivalent to 25 percent of its enlarged share capital, including a 10 percent free float on the IDX) at an offering price of IDR 875 per share.

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