KBLI 2025 real estate and accommodation is reshaping how property income is categorised, licensed, and supervised in Indonesia. For PT PMA groups, the commercial impact shows up in OSS outputs, bank and counterparty due diligence questions, and the cost of aligning group structures with operational reality.
Across 2025, several instruments moved in parallel: risk-based licensing administration through PP 28/2025 risk based licensing, procedural rules through BKPM Regulation 5/2025 OSS procedures, and a tourism sector standards and enforcement posture linked to accommodation. KBLI 2025 real estate and accommodation then arrives as the classification framework that makes those instruments more operational in daily practice.
KBLI 2025 real estate and accommodation is also time-sensitive. Peraturan BPS No. 7 Tahun 2025 includes an adjustment requirement for existing KBLI users within six months of promulgation, which affects how quickly existing OSS profiles need review.
KBLI 2025 Treatment of Real Estate Monetisation
KBLI 2025 treatment of real estate monetisation works best as an operating-model map. It supports a consistent distinction between development for sale, long-term rental and operation, accommodation supply, management-for-fee, and intermediation. Those distinctions are embedded in the KBLI 2025 framework issued under Peraturan BPS No. 7 Tahun 2025 and the KBLI 2025 publication materials.
For PT PMA groups, KBLI 2025 real estate and accommodation requires a written description of how revenue is earned and how services are delivered. The key reference points typically include:
- whether customers purchase a unit or occupy it
- whether occupancy is measured in months or nights
- whether service delivery resembles hospitality operations
- whether revenue is rent, accommodation revenue, a management fee, or commission income
- which entity contracts with guests or tenants, and which entity controls pricing and booking conditions
That evidence-led approach reduces future disputes about what the business “really does” when OSS, tourism supervision, or banking questions arise.
What changed with KBLI 68111 under KBLI 2025
Under KBLI 2025, KBLI 68111 is no longer the broad, catch all real estate monetisation code that many operators used under the OSS interpretation of KBLI 2020. It is now positioned as a residential development and residential-for-sale activity.
KBLI 2025 definition of 68111
KBLI 68111 – Aktivitas Pengembangan Bangunan dan Lahan Hunian / Residential Building and Land Development Activities covers, among other items, the purchase and sale of residential buildings (including apartments and dwellings) and the development of houses, flats, or apartments for sale, including residential projects “untuk dijual” / “for sale”.
In the same section, KBLI 2025 separates residential monetisation into distinct operating positions:
- 68111 for residential development and sale
- 68112 for residential renting and operation (owned or leased)
- 6812* for non-residential real estate (owned or leased), explicitly including offices, coworking space, storage, data centres, and land use for tourism zones and other purposes
This structural separation is exactly why the earlier “one code fits everything” approach becomes higher risk.
Why 68111 becomes relevant when revenue is driven by sales contracts and milestones
A PT PMA is in 68111 territory when the commercial logic looks like project delivery and unit sales, not yield from operating an asset.
Typical indicators (commercial and documentary) that point to 68111:
- Units are marketed and sold, rather than rented, and the business model is built around conversion of inventory into sales.
- Customer contracts are structured around booking fees, down payments, progress payments, and a defined handover or completion event.
- Internal reporting focuses on project margin, sales velocity, and delivery milestones, rather than occupancy, ADR, or long-term lease rollovers.
- The entity’s primary activity is developing stock for sale, even if it temporarily rents units during a sales period (that mix needs careful licensing mapping).
This is consistent with the KBLI 2025 description that expressly includes pengembangan proyek bangunan hunian untuk dijual / development of residential building projects for sale and residential purchase and sale activities.
What this replaces in practice (KBLI 2020 and OSS usage)
Under KBLI 2020 OSS detail, “Real Estat Yang Dimiliki Sendiri Atau Disewa” / “Owned or Rented Real Estate” was commonly treated as covering purchase, sale, rental, and operation of owned or leased real estate across apartments, residential and non-residential buildings, warehouses, malls, and similar assets.
KBLI 2025 does not remove those activities. It forces separation by operating position (develop for sale versus rent and operate, and residential versus non-residential).
KBLI 68111 Residential Development
Residential Building and Land Development Activities (KBLI 68111) becomes relevant when the group builds residential property for sale, with revenue driven by sales contracts and delivery milestones.
Operational indicators
A development model usually produces a coherent file: land acquisition and development planning, contractor engagement, marketing for sale, sale and purchase documentation, and handover workflows. That file matters because OSS licensing sequences and underlying prerequisites tend to follow the project lifecycle.
PT PMA implementation implications
Residential development KBLI 68111 typically belongs in a programme that links corporate scope, OSS configuration, and location-linked prerequisites. Sequencing discipline tends to prevent OSS workflow interruptions later in the development cycle, particularly where a project spans multiple locations or phases. The enabling framework and procedures sit within risk-based licensing administration and the OSS procedural regime.
KBLI 68112 Residential Rental
Residential rental (KBLI 68112) becomes relevant when the group monetises residential property through tenancy-style arrangements, generally measured in months, with rent as the primary income line.
Operational indicators
A tenancy-style model typically includes tenancy agreements, deposits, notice provisions, and a service profile that focuses on maintenance and asset operation rather than guest turnover.
PT PMA implementation implications
Residential rental (KBLI 68112) benefits from alignment between contracting, marketing, and service delivery. Where the public footprint resembles accommodation supply, remediation risk increases. KBLI 2025 real estate and accommodation encourages that alignment by supporting more granular separation between rental operation and accommodation categories.
KBLI 68112 Long Term Rentals
KBLI 68112 long-term residential rentals is the reference point when the PT PMA earns income by renting and operating residential property in a tenancy-style model, generally measured in months, with a services footprint aligned to property operation rather than guest turnover.
KBLI 2025 treats long term rentals as a practical planning category for PT PMA owners because it sits at a boundary that has been stretched by tourism-market behaviour. A defensible long-term rental model typically looks consistent in three places: contracting, service profile, and distribution channels.
Contracting discipline
Long-term rental arrangements generally include provisions aligned with tenancy, such as deposits, maintenance obligations, dispute procedures, and notice periods.
A tenancy-style file usually includes:
- tenancy agreements, deposits, and notice provisions
- occupancy measured in months rather than nights
- maintenance and asset operation as the core service layer
- marketing that does not rely on nightly pricing and guest experience language
Service discipline
Maintenance and periodic servicing can sit comfortably within KBLI 2025 long term rentals. A hospitality-style service bundle changes the risk profile, particularly where housekeeping, linen programmes, guest support, and experience management become routine.
Distribution discipline
Where a property is marketed as a “villa rental” and distributed through tourist channels, the operating footprint often shifts towards accommodation supply. That shift becomes visible through booking pathways, check-in processes, housekeeping programmes, and guest-facing communications. Those are the elements that tend to drive reclassification discussions during licensing review and compliance work. Once that footprint exists, KBLI 2025 real estate and accommodation creates fewer safe routes for explaining away the mismatch.
KBLI 5520* Short Stay Accommodation
KBLI 2025 short stay accommodation captures a wide portion of real estate monetisation in tourism markets because the category follows stay patterns and service delivery. Practical indicators include nightly or weekly pricing, guest turnover operations, check-in and check-out processes, housekeeping and linen services, and guest support functions.
Operational indicators that generally align with KBLI 5520* include:
- nightly or weekly pricing
- check-in and check-out processes
- housekeeping and linen services included as part of the stay
- guest rules, guest communications, and review management
- OTA distribution and channel management tools
- guest support, concierge, reception-style or on-call operations
Where those indicators exist, classification decisions tend to generate additional compliance tasks through OSS and through tourism sector requirements. The tourism sector posture has been reinforced through 2025 instruments focused on standards, supervision, and administrative sanctions.
Those indicators are visible to regulators and counterparties because they appear across public marketing, contracts, payment flows, staffing structures, and vendor arrangements. The practical consequence is that the KBLI selection needs to align with the operating footprint, not only with the asset category.
KBLI 2025 makes the stay-pattern question more visible and easier for regulators to apply consistently. The result is often an earlier need for structuring decisions about which entity is the operator, which entity provides management services, and which entity earns commission revenue.
KBLI 55203 Villa Classification
KBLI 55203 villa classification becomes relevant in Indonesia’s tourism markets because “villa business” can describe several different commercial arrangements. In practice, three recurring patterns appear.
Pattern 1: Operator-led accommodation supply
The PT PMA controls pricing, booking conditions, guest terms, staffing, and service delivery. Guest payments flow to the PT PMA or through accounts it controls. This pattern usually behaves as accommodation supply for licensing and supervision purposes.
Pattern 2: Management-for-fee with third-party ownership
A PT PMA manages day-to-day operations for owners and earns a management fee, with contracts that define operational responsibility, performance obligations, and payment flows. This pattern can fit a management-services posture if the contracting trail remains consistent with the role map.
Pattern 3: Commission-based intermediation
The PT PMA matches guests to accommodation providers and earns commission income, without delivering the stay. This pattern can sit within intermediation classifications where the business model remains consistent with the revenue trail.
The KBLI approach works best when the role is defined first, then coded. KBLI 2025 classification decisions benefit from a written evidence pack: who contracts with guests, who receives guest payments, who employs staff, who controls pricing, and which entity carries operating liabilities. KBLI 2025 real estate and accommodation provides the structure for that assessment.
PT PMA Relationship with KBLI 5520*
KBLI 5520* (short-stay accommodation) is “unavailable” to PT PMA in OSS because OSS applies investment-field restrictions (Daftar Bidang Usaha Penanaman Modal / List of Investment Business Fields) on top of the statistical classification.
1) The immediate legal driver is the Investment List treatment of small-scale accommodation
Under Perpres 10/2021 as amended by Perpres 49/2021, a number of accommodation business fields are placed in the list of business fields allocated to Cooperatives and Micro, Small and Medium Enterprises and / or requiring MSME partnership (Schedule II). The Schedule II table explicitly includes, in the tourism sector:
- KBLI 55110 Hotel Bintang 1 / One-Star Hotels
- KBLI 55120 Hotel Melati / Budget Hotels
- KBLI 55130 Pondok Wisata / Tourist Lodge
- KBLI 55199 Guest House, and
- KBLI 55193 Vila / Villa.
In practical OSS behaviour, any “short-stay accommodation” selection that maps to these restricted accommodation types will fail validation for a PT PMA profile, because a PT PMA is not treated as a MSME operator.
2) Why this hits KBLI 5520* specifically in real estate monetisation
In the market, “villa monetisation” commonly looks like short-stay accommodation supply, even when the asset is owned as real estate. KBLI 5520 short-stay accommodation is the family of activities that captures that operating position, and that operating position is exactly where Schedule II places villa and similar accommodation types.
So, even if the asset is real estate, the revenue model and service footprint (nightly pricing, guest turnover, housekeeping, check-in, OTA distribution) pushes the activity into “accommodation supply”, and OSS then applies the Schedule II restriction logic.
3) What “unavailable” typically means for PT PMA in practice
When OSS blocks the KBLI for a PT PMA, the consequences are operational, not theoretical:
- The PT PMA cannot obtain the business licence outputs for operating short-stay accommodation under those restricted activity lines.
- If the PT PMA proceeds anyway (for example, by using a rental real estate code while operating like a villa business), the mismatch becomes visible across contracts, marketing, payment flows, staffing, and later compliance reviews.
- If a tourism-standard pathway is triggered for accommodation operations, the PT PMA can be structurally unable to align its licensing position with its actual operating footprint.
4) What PT PMA groups can do instead (legally defensible options)
For real estate owners who want to monetise through short-stay use, the compliant options usually involve separating roles:
- Landlord model: the PT PMA earns long-term rent (property operation), while a properly structured local operator runs the short-stay accommodation business.
- Management-for-fee model: the PT PMA provides management services under contract to an eligible accommodation operator, with contracts and payment flows built around management fees rather than guest revenue.
- Intermediation model: the PT PMA acts as an intermediary (commission-based matching), but does not become the accommodation operator in substance.
Which of these is viable depends on who contracts with guests, who receives guest payments, who sets prices, and who carries operational liability.
Tourism Business Standard Certificate Indonesia
Tourism Business Standard Certificate Indonesia is part of the practical compliance environment for accommodation operators and managers in 2025. The tourism sector has published a standards and enforcement framework through Peraturan Menteri Pariwisata Nomor 6 Tahun 2025 / Minister of Tourism Regulation Number 6 of 2025, which addresses standards, supervision, and administrative sanctions within risk-based licensing for the tourism sector.
Tourism Business Standard Certificate Indonesia also connects to formal signals encouraging accommodation providers to register and meet licensing requirements, including references by the Ministry to Surat Edaran Menteri Pariwisata Nomor SE/4/HK.01.03/MP/2025 / Circular Letter of the Minister of Tourism Number SE/4/HK.01.03/MP/2025 concerning registration encouragement for accommodation tourism businesses.
Tourism Business Standard Certificate Indonesia aligns with the operational certification ecosystem shown through SISUPAR, which describes tourism business certification processes carried out by certification bodies accredited by KAN.
For PT PMA groups monetising property through short stays, Tourism Business Standard Certificate Indonesia should trigger a dedicated workstream that sits alongside OSS corrections and KBLI mapping, with defined deliverables and evidence requirements.
PT PMA Real Estate Licensing
PT PMA real estate licensing Indonesia work frequently fails when a single entity attempts to perform four roles at once: asset ownership, accommodation operations, third-party management, and intermediation. KBLI 2025 real estate and accommodation supports a cleaner role map, which improves licensing coherence and reduces future remediation.
A workable role map for many groups includes:
- PropCo for asset ownership and long-term rental
- OpCo for accommodation operations
- ManCo for management services delivered under contract
- PlatformCo for commission-based intermediation
PT PMA real estate licensing Indonesia becomes easier to sustain when each entity has a coherent purpose, coherent contracts, and an OSS profile that reflects actual operations.
Worked example 1: OTA-distributed villas with guest services
A PT PMA owns three villas, sells stays through OTAs, applies nightly pricing, operates check-in, and includes housekeeping and linen. The group describes the activity as long-term rental and uses a long-term rental narrative with counterparties. The operating file, distribution channels, and revenue trail behave like KBLI 2025 short stay accommodation and align with KBLI 2025 villa classification.
In that scenario, KBLI 2025 real estate and accommodation points towards a reclassification programme, followed by an OSS gap assessment and a tourism compliance workstream linked to Tourism Business Standard Certificate Indonesia and the tourism sector standards regime. JDIH BPK+1
Worked example 2: Owner entity plus manager entity
A group has owners who want to monetise villas without direct operational involvement. A PT PMA manages staff, vendors, quality controls, and channel management, and earns a management fee. Contracts specify how revenue is collected and how fees are calculated. The compliance outcome depends on the operating facts and payment flows. If the PT PMA contracts directly with guests and collects accommodation revenue, it often behaves as an operator. If the PT PMA provides management services under contract with a fee model and a consistent contracting trail, a management-services classification becomes more defensible.
KBLI 2025 real estate and accommodation supports that analysis by separating accommodation operations, management services, and intermediation into distinct commercial categories.
OSS Risk Based Licensing
OSS risk based licensing Indonesia turns classification into practical obligations. For PT PMA groups, it converts KBLI mapping into permissions, commitments, and sector pathways. The overarching framework for risk-based licensing administration sits within PP 28/2025, with supporting procedural rules issued through BKPM.
OSS risk based licensing Indonesia also shapes how quickly a business can make changes, particularly when the OSS profile includes multiple locations and multiple activity lines. KBLI 2025 real estate and accommodation increases the importance of getting the KBLI set right before making wider operational changes, because rework can cascade across licensing outputs.
PP 28/2025 risk based licensing
PP 28/2025 risk based licensing provides the national administrative framework for risk-based business licensing, including publication details recorded in official legal repositories and regulator JDIH records.
For real estate and accommodation businesses, PP 28/2025 risk based licensing underpins:
- how OSS categorises activities by risk
- how licensing requirements and commitments are administered
- how corrections and changes are processed over time
This framework raises the operational cost of a mismatched KBLI set, particularly where a group attempts to pivot from KBLI 2025 long term rentals into KBLI 2025 short stay accommodation without updating corporate scope, OSS profile settings, and sector requirements.
BKPM Regulation 5/2025 OSS procedures
BKPM Regulation 5/2025 OSS procedures provides procedural rules for implementing risk-based licensing and investment facilities through OSS, with publication through BKPM’s JDIH and cross-references in the BPK legal repository. JDIH BKPM+1
For PT PMA real estate licensing Indonesia, BKPM Regulation 5/2025 OSS procedures shows up in practice through:
- dependencies tied to basic requirements and location-linked prerequisites
- sequencing needs for OSS profile changes where corporate documents also need amendments
- reduced tolerance for patchwork updates that create inconsistencies across the OSS profile
The practical outcome is that KBLI 2025 real estate and accommodation mapping should be completed before substantial operational changes are made, particularly for accommodation and tourism-linked activities.
Management and Platform Models
Management and platform models often sit behind the most common real estate monetisation structures in Bali and other tourism markets. KBLI 2025 real estate and accommodation helps separate these models by focusing on how revenue is earned and how operational responsibility is allocated.
KBLI 55901 Accommodation Management Services
KBLI 55901 (accommodation management services) becomes relevant when a PT PMA manages accommodation operations for owners and earns a management fee under contract.
A defensible file typically documents:
- who contracts with guests
- who receives guest payments
- who sets pricing and booking conditions
- who employs staff and directs vendors
- how the management fee is calculated and invoiced
Those items matter because they align the revenue trail with the role map, which reduces disputes during licensing reviews, audits, or supervisory enquiries. Where accommodation management services KBLI 55901 is used, KBLI 2025 real estate and accommodation supports a clearer separation between operating accommodation and managing accommodation.
KBLI 55400 Accommodation Intermediation
KBLI 55400 (accommodation intermediation) becomes relevant when the PT PMA earns commission by matching guests to accommodation providers, without delivering the stay.
In practice, intermediation models drift when the business begins to deliver on-site services or assumes operational responsibilities to protect reviews and booking volumes. Once that drift occurs, classification and licensing posture often require review, particularly where the business starts to behave like KBLI 2025 short stay accommodation.
A robust approach separates commission income from accommodation revenue, with contracts and payment flows that remain consistent over time.
KBLI 68210 Real Estate Intermediation
KBLI 68210 (real estate intermediation) becomes relevant when income is earned from matching parties in sale, purchase, or leasing transactions, including digital marketplace models.
For PT PMA groups whose revenue is primarily commission-based, real estate intermediation KBLI 68210 often provides a more coherent classification posture than owner-operator real estate codes. The core evidence points include the absence of asset control and the presence of commission revenue, introduction fees, or advertising-driven marketplace income.
Tax and Incentives Influencing Real Estate Monetisation
Real estate monetisation is influenced by classification and licensing, and also by tax incentives that affect buyer behaviour and project delivery schedules.
Peraturan Menteri Keuangan Nomor 13 Tahun 2025 / Regulation of the Minister of Finance Number 13 of 2025 regulates VAT borne by the Government for delivery of certain landed houses and apartment units in fiscal year 2025, with publication in official legal repositories and supporting tax authority communications.
For PT PMA developers, the commercial relevance typically includes:
- delivery timing choices that influence eligibility windows
- invoicing and documentation disciplines aligned with the incentive conditions
- project pricing and settlement planning aligned with buyer expectations
The Kemenkeu JDIH entry also records related instruments for later periods and adjustments, which should be checked when building a forward-looking pipeline. Kementerian Keuangan Republik Indonesia+1
Implementation Programme for Real Estate and Accommodation in KBLI 2025
KBLI 2025 implementation in the real estate and accommodation sectors produces the best results when managed as a single programme with defined outputs.
1) Operating model map per asset and per entity
TraceWorthy documents length of stay patterns, service profile, booking channels, contracting parties, payment flows, staffing and vendor control, and revenue splits.
2) KBLI 2025 real estate monetisation mapping memo
TraceWorthy prepares a written memo per entity: primary and supporting classifications, rationale linked to operating facts, and a group role map that shows PropCo, OpCo, ManCo, and PlatformCo functions where relevant.
3) OSS gap register aligned to OSS risk based licensing Indonesia
TraceWorthy reconciles the current OSS profile against the chosen model, then identifies which changes and prerequisites affect licensing outputs under PP 28/2025 risk based licensing and BKPM Regulation 5/2025 OSS procedures.
4) Sequenced remediation plan
The plan links corporate scope changes, OSS amendments, location prerequisites, and sector workstreams, including tourism standards evidence where KBLI 2025 short stay accommodation applies.
5) Tourism compliance workstream linked to Tourism Business Standard Certificate Indonesia
Where accommodation supply exists, the programme defines evidence requirements aligned with Peraturan Menteri Pariwisata Nomor 6 Tahun 2025 / Minister of Tourism Regulation Number 6 of 2025 and the certification ecosystem described through SISUPAR.
Real estate and accommodation classification under KBLI 2025 then becomes a stable operational posture rather than a recurring remediation cycle.
How PT PMA owners should brief TraceWorthy
To begin a KBLI 2025 real estate and accommodation project, PT PMA owners should provide:
- an asset register with ownership, lease, and operational control per site
- a revenue split across sale, long-term rental, short-stay accommodation, management fees, and commissions
- service profile evidence and customer journey detail (channels, check-in process, housekeeping programme)
- an OSS extract showing current KBLI list, licences, locations, and any pending submissions
TraceWorthy then delivers a KBLI 2025 real estate monetisation mapping memo, an OSS gap register aligned to OSS risk based licensing Indonesia, and a sequenced remediation programme that integrates KBLI 2025 long term rentals, KBLI 2025 short stay accommodation, Tourism Business Standard Certificate Indonesia, accommodation management services KBLI 55901, accommodation intermediation KBLI 55400, and real estate intermediation KBLI 68210 into a coherent group-wide operating and licensing posture.
Summary
KBLI 2025 has narrowed the practical gap between what a business does on the ground and what its OSS profile claims it does. In the property and accommodation sectors, that change is most visible at the boundaries between development for sale (KBLI 68111), long-term residential rentals (KBLI 68112), non-residential real estate operations (KBLI 68129), and short-stay accommodation models (KBLI 5520 and related codes).
For PT PMA owners, the risk is rarely a single incorrect KBLI. The larger exposure usually sits in a combined footprint: mixed revenue streams, blended service delivery, unclear contracting parties, and OSS outputs that no longer align with the operating file. Once those inconsistencies exist, remedial work tends to expand beyond OSS changes into corporate scope, contractual restructuring, and tourism sector compliance, depending on the model.
The regulatory direction since January 2025 has made classification and licensing coherence a practical operational requirement. In real estate and accommodation, enforcement risk tends to increase when marketing footprint, booking pathways, payment flows, staffing arrangements, and guest or tenant contracting contradict the KBLI and licences recorded in OSS.
A structured review is the most efficient way to prevent drift turning into disruption. The objective is a defensible operating posture: activities correctly mapped to KBLI, OSS outputs aligned to real operations, prerequisites sequenced correctly, and sector requirements addressed where accommodation supply or tourism-linked operations exist.
Next Steps
If you operate in the property and or accommodation sectors, schedule a TraceWorthy business health check immediately. The health check is designed to identify where your current operating model may be misclassified, under-licensed, or exposed to sector supervision, then provide a sequenced remediation plan.
To commence, instruct TraceWorthy to:
- Extract and review your current OSS profile, KBLI set, licences, locations, and pending submissions.
- Review your operating model evidence per asset, including booking channels, length-of-stay patterns, service footprint, contracts, and payment flows.
- Deliver a written gap register and an implementation plan covering OSS amendments, corporate scope updates where required, and sector compliance actions so that your business does not continue operating without the required permissions.
Regulatory References (official sources)
- Peraturan Badan Pusat Statistik Nomor 7 Tahun 2025 tentang Klasifikasi Baku Lapangan Usaha Indonesia, including official publication metadata and BPS KBLI 2025 publication page.
- Peraturan Pemerintah Nomor 28 Tahun 2025 tentang Penyelenggaraan Perizinan Berusaha Berbasis Risiko, including official PDF and BKPM JDIH publication details.
- Peraturan Menteri Investasi dan Hilirisasi/Kepala BKPM Nomor 5 Tahun 2025 on risk-based licensing procedures and investment facilities through OSS, via BKPM JDIH and BPK legal repository entries.
- Peraturan Menteri Pariwisata Nomor 6 Tahun 2025 on tourism sector risk-based licensing standards, supervision, and administrative sanctions, via Kemenpar JDIH and BPK legal repository entries.
- Surat Edaran Menteri Pariwisata Nomor SE/4/HK.01.03/MP/2025, referenced in Ministry communications about registration encouragement for accommodation tourism businesses.
- SISUPAR (Standardisasi dan Sertifikasi Usaha Pariwisata) portal materials describing certification processes and LSPr accreditation references.
- Peraturan Menteri Keuangan Nomor 13 Tahun 2025 on VAT borne by the Government for delivery of certain landed houses and apartment units in FY 2025, via Kemenkeu JDIH and official PDF.