Interesting Tourist Destination In Japan

29 Maret 2021

Odaiba is a manmade island located in bay of Tokyo, Japan. Odaiba comes from the word daiba wich mean fort. At first Odaiba build as a defence fort built in several small island in 1850s. Odaiba are built by Egawa Hidetatsu from Tokugawa Shogunate to give Edo defense fort from naval invasion, mainly from Commodore Matthew Parry black ships. The first version of Odaiba built as a port in 1860. In Odaiba small islands there is a lot of cannon and batteries for naval defense.

            Odaiba is redeveloped as modern island when Tokyo Port open in 1941. Tokyo Governor, Shunichi Suzuki plan big development in early 1990s to change Odaiba into Tokyo Teleport Town. Suzuki successor, Yukio Aoshima stop the plan in 1995 because there is a lot of vacant spot. This is because Japanese price asset buble has burst and causing Japanese commercial development stagnated. Odaiba back to live in late 1990s as a tourist destination. There is a lot of big hotel and also shopping center located in Odaiba.

            Currently there is a lot interesting tourist destination located at Odaiba, for example is Fuji TV Building, a building owned by one of Japanese private television company. Fuji TV building are very unique and futuristic so this building become one of the tourist destination in Odaiba. There is also Museum of Maritime Science, the building are build looks like a giant cruise docking in a port. This museum show innovation about maritime technology. For people who likes to shopping, they can visit Pallette Town, a special area for shopping centre located in Odaiba. In Pallette Town there is located Venus Fort, a venezian styled mall, Ferris Wheel, and Toyota automobile company museum Toyota Mega Web.

            To visit Odaiba, we can use Yurikamome Line. Yurikamome line will go across Rainbow Bridge so we can see Tokyo port beautiful view. Another way to go to Odaiba are using Rinkai underground train line. We can also go to Odaiba with boat from Asakusa. In Odaiba there is Tokyo Water Bus that operated between Odaiba Seaside Park and Hinode Pier.

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    Authored by : Fitri Aulia | 22 December 2020

    Recent Property Development

    The Covid-19 pandemic has dealt a quite severe blow to the property business sector in 2020. During the PSBB period, business activities were very sluggish and it can be said that some business actors suffered severe losses.

    However, entering the new normal period, the economic activity in several sectors including property has begun to revive from the previous period. The role of the government triggers the revival of Indonesia’s property business activities.

     Government Stimulus

    The assistance provided by the government is in the form of subsidies or incentives for interest subsidies to debtors of public housing credit (KPR), which is contained in the Minister of Finance Regulation (PMK) Number 138 / PMK.05 / 2020 and amendments to PMK 85 / PMK.05 / 2020 regarding the guidelines for providing interest subsidies in the effort to implement the National Economic Recovery program.

    In early March 2020, the Government decided to increase the allocation of housing financing assistance by IDR 1.5 trillion for Low-Income Communities (MBR). This was stated by the Director General of Infrastructure Financing of the Ministry of Public Works and Public Housing (PUPR) Eko Djoeli Heripoerwanto in a webinar, Wednesday (29/7/2020).

    In addition, the Government also has Bank BTN as their partner-collaboration to implement their OMH Program aimed at Low-Income Communities (MBR) with low interest rates and low installments for the purchase of a prosperous tread house and a welfare apartment.

    Bank BTN noted, in 2015 they have provided housing financing assistance totaling 474,099 units. Then in 2016 as many as 595,540 units, in 2017 to 666,806 units, in 2018 to 755,093 units, and in 2019 to 735,749 units.

    As of September 2020, BTN has provided home ownership credit support (KPR) of 93,448 units which cost as much as Rp. 15.6 trillion. These support provided by BTN is significant for the survival of the business property sector.

    BTN commitment on supporting business property has not slackened. In fact, during the pandemic, BTN continuously provides support for the government program.The distribution of subsidized KPR is still a mainstay of BTN for the One Million Houses program.


    Source : Bank BTN (visit : https://www.btn.co.id/id/Conventional/Product-Links/Produk-BTN/Kredit-Konsumer/Pinjaman-Bangunan/KPR-BTN-Subsidi)

    Positive Trend in Q3  2020

    There is a positive trend during Q3 2020 after it drastically dropped earlier in the year, indicates there is potential for the revival of Commercial Property Demand in Q4 2020 and the next Q1 2021.

    Source : Bank Indonesia

    Hotels and convention halls are two sectors whose demand has risen quite drastically in the Q3 after falling badly in the previous quarter. This demonstrates positive potential for its development in the future. Meanwhile, the demand of apartment remains low and still struggles to revive until now.

    Growth of Commercial Property Demand in Jabodetabek

    Overall in Jabodetabek, the commercial property sector also experienced a positive increase during Q3 2020.

    In Jakarta, all commercial property demands show positivism with hotels being the most prominent in their development at Q3 2020. After previously shows a negative number, the total index in Q3 has at least increased to be positive.

    Source : Bank Indonesia

     Meanwhile, the growth in the total commercial property index jumped drastically in Bogor, Depok and Bekasi. Same case with Jakarta, its hotel sector are also the most prominent in reviving, at least in the Q3 2020.

    Source : Bank Indonesia

    As we can see on charts above, the hotel segment shows a great improvement in demand. This was driven by various kinds of promotions offered by hotels to adapt in this situation such as providing huge discount, staycation packages, working from hotels offer, and wedding reception packages.

    Why Hotels?

    As Indonesia gradually eases lockdown restrictions, the hotel occupancy rates across the country including Jakarta, have slowly started to pick up. However this is not without several efforts and sacrifices driven by people in the hotels sector to improve and revive the hospitality business sector in Indonesia.

    To get through this hard times, efficiency and innovation are the main keys. Therefore, there are several trends created specifically to adapt to this era. Hotels competing with each other to offer a flood of discounts. To further intensify its sales strategy, there are several e-commerce platforms that is becoming a  great place to advertise rooms and staycation packages, such as Traveloka. The Buy Now Stay Later also sticks to this trend.

    Hotels discounts on Traveloka (Source : Traveloka)

    Another new trend is the Work From Hotel (WFH). As you might know, the abbreviation of WFH was initially stands for Work From Home. To connect the dots, Working From Hotel then exist and created because there are more and more office workers are getting bored with the atmosphere of their house and desperate to look for a new atmosphere. It’s a trend where hotels prepare rooms, complete with equipment and facilities to work (e.g : Wi-Fi , stationer, and free printing facilities,etc).

    Source : Instagram @harrisfxsudirman and @arunasenggigi

    During the transitional PSBB period, indoor wedding receptions are allowed to be held again after previously was banned temporarily due to the massive increase of the Covid-19 spread. This becomes the opportunity that triggers the revival for the hotel business.

    However, this permission is also accompanied by the requirement to fulfill and comply with the health protocols made by the government. These includes the limitation of attendees to a maximum of 25 percent of normal capacity. Then, the seating distance for visitors is set at least 1.5 meters. Visitors are also prohibited from passing by or changing seats. The eating and drinking utensils must be sterilized, while the serving of food is prohibited from using a buffet. Last but not least, the wedding staffs are required to wear a mask, face shield and gloves.

    One of the breakthrough in this trend was the make of  “Virtual Wedding” ever since June 2020. As this was the case held by The Sunan Hotel Solo, which offer a virtual wedding service package for 44.5 million. The event is only attended by the couple and their family members, meanwhile guests are able to attend the wedding virtually through various platforms such as Zoom, YouTube, Facebook and Instagram, while enjoying food sent by the hotel to their residences.

                                                                                                              Source: The Sunan Hotels Solo

    Finally, we might conclude that the property business in Indonesia has the potential to develop more despite the massive impact it has taken from pandemic outburst. Combining the stakeholders effort and the government’s support to stimulate this sector are expected to help revive the business sector in the future.



    Bank Indonesia. (2020). Perkembangan Properti Komersial (PPKOM).

    Kementerian Pekerjaan Umum dan Perumahan Rakyat. (2020, November 3). Tingkatkan Kepemilikan Hunian Layak, Realisasi Program Sejuta Rumah Hingga Akhir Oktober 2020 Capai 601.637 Unit. Retrieved from https://www.pu.go.id/berita/view/18970/tingkatkan-kepemilikan-hunian-layak-realisasi-program-sejuta-rumah-hingga-akhir-oktober-2020-capai-601-637-unit

    Kementerian Pekerjaan Umum dan Perumahan Rakyat . (2020, January 3). Capaian Pembangunan Rumah Tembus 1,25 Juta Unit. Retrieved from https://perumahan.pu.go.id/berita/view/227/capaian-pembangunan-rumah-tembus-1-25-juta-unit

    Kompas. (2020, July 29). Alokasi Tambahan Rp 1,5 Triliun untuk Perumahan Terkait 3 Program. Retrieved from https://properti.kompas.com/read/2020/07/29/191334021/alokasi-tambahan-rp-15-triliun-untuk-perumahan-terkait-3-program?page=all

    BUMN inc. (2020). Target Penyaluran KPR Bank BTN Naik Menjadi 300.000 Unit Per Tahun. Retrieved from http://bumninc.com/target-penyaluran-kpr-bank-btn-naik-menjadi-300-000-unit-per-tahun/?more=2

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