Living Lab Ventures and Pashouses Collaborate to Build Project Rumalaku.id

Living Lab Ventures through the incubation division of Living Lab X collaborates with startups proptech Passhouses to build Rumalaku.id. Through this project, both of them want to facilitate the sale of landed houses secondary in the BSD City area and its surroundings.

To absorb the landed house market secondary in the area, Rumalaku collaborates with property developer Sinar Mas Land. Later, Rumalaku.id will be jointly managed by Pashouses and Sinar Mas Land. Meanwhile, Pashouses can help homeowners to carry out minor renovations so that the house can be ready to sell at the best price. Pashouses also facilitates the application of mortgages according to the needs of prospective buyers.

Sinar Mas Land's Chief Transformation Officer, Mulyawan Gani, said that this collaboration is a step to accelerate the transformation of all the company's projects. "We serve homeowners in the Sinar Mas Land project through a platform that can facilitate the sale of secondary homes with accurate information," he said.

Meanwhile, Partner at Living Lab Ventures Bayu Seto said, Pashouses and Living Lab Ventures partners can directly carry out project development by implementing it in a number of ecosystems. offline who have worked with him. Meanwhile, Pashouses' success in optimizing property buying and selling secondary can later be expanded to a national scale.

Pashouses co-founder and CEO Junghans Tasani added, "This strategic collaboration is carried out to answer the needs of investors to get property easily in BSD City through digital platforms," ​​he said.

Living Lab Ventures

Living Lab Ventures is a new investment vehicle owned by Sinarmas Land Limited (Sinar Mas Land) for the agnostic sector in Southeast Asia. Living Lab Ventures facilitates sustainable startups through three main pillars, namely investment, incubation and integration, and venture building.

Through Living Lab Ventures, Sinar Mas Land seeks to develop a digital ecosystem, especially to add digital aspects to the overall township development. One of his theses is to find a startup that can make an impact on the problems that city dwellers have and solutions based on city ​​centric-driven.

Recently, Living Lab Ventures also provided pre-start funding (pre-seed) IDR 57 billion for startups proptechIDEAL. This startup presents a platform that can simplify and digitize the administrative process for applying for residential mortgages.

Meanwhile, these solutions are expected to be a big challenge to the problem of buying a house in Indonesia. The reason is, Bank Indonesia (BI) reports that public literacy in applying for mortgages is still low so they do not fully understand the entire process in it. Not to mention other classic challenges, such as manual document administration to data security.

Furthermore, BI data noted that the local mortgage industry in 2021 reached $39 billion with a projected growth of 17% in the next five years. This growth is driven by the increase in the population of Gen Y and Gen Z in the next ten years who will become the main target of the property market.