Province

West Java

Overview Economy

West Java, Bandung

Situated in a mountainous region, West Java is a province of Indonesia located in the western region of the island of Java. Its capital city is the bustling metropolis of Bandung, the fourth largest city in the country after Jakarta, Surabaya, and Medan. According to data from the West Java Central Statistics Agency (BPS), the province covers an area of 35,377 square kilometers and is divided into several regions, including Bogor, Bekasi, Sukabumi, Cianjur, Garut, Tasikmalaya, Cirebon, and Sumedang. Additionally, the province is home to municipalities that include Depok, Cimahi, and Banjar.

As of 2023, the total population of West Java is 49.86 million people, with this population characterized by two contrasting identities: an urban population largely residing in the Jakarta, Bogor, Depok, Tangerang, Bekasi (Jabodetabek) area, around Jakarta, and Greater Bandung; and a traditional population living in the remaining rural areas.

In terms of religion, the majority of West Java’s population is Muslim, comprising 48.5 million people, followed by 883,850 Christians, 303,633 Catholics, 17,356 Hindus, 98,232 Buddhists, 12,250 Konghucu, and 3,275 people of other faiths.

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West Java’s Economy

West Java’s economy is noted by a Gross Regional Domestic Product (GRDP) of Rp 1.6 trillion in 2023, which also saw the province experience an economic growth rate of 5 percent from the previous year. Based on this GRDP, the transportation and warehousing sector experienced the most significant growth, reaching Rp 83.7 billion, in line with increasing traffic mobility during the Christmas and New Year holidays. This was followed by the accommodation and food and drink sector, reaching Rp 46.7 billion, and the information and communications sector, which reached Rp 105 billion. Meanwhile, the manufacturing sector and the wholesale and retail trade sector, which also includes the field of car and motorbike reparation, experienced growth, reaching Rp 240.5 billion and Rp 211.5 billion, respectively.

Investment-wise, the West Java Provincial Government has set an investment target for 2024 amounting to Rp 250 trillion, reflecting on the investment realization in 2023, which was achieved at around Rp 210.6 trillion despite the target being Rp 188.03 trillion. The government will be encouraging an increase in investment in four sectors: infrastructure, technology, tourism, and downstream industries.

Furthermore, West Java has also established a Special Economic Zone (SEZ) called the Lido SEZ in Bogor through Government Regulation No. 69/2021 on the Establishment of Lido SEZ. With a total area reaching 1,040 hectares, the government plans to develop Lido SEZ into a tourist destination with various attractions, ranging from world-class theme parks, golf courses, film studios, and music and arts centers, to retail and dining facilities.

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Latest News

January 15, 2025

PT Modernland Realty Tbk subsidiary PT Modern Industrial Estat, which develops and manage the ModernCikande Industrial Estate, won the highest award at the FIABCI Indonesia-REI Excellence Award 2024 Goes to FIABCI World Prix D'Excellence Awards 2025 for the Industry category.

FIABCI Indonesia-REI Excellence Award is an award event for the best property works held annually by Fédération Internationale des Administrateurs de Biens Conseils et Agent Immobiliers (FIABCI) Indonesia and Real Estate Indonesia. This year's edition of the occasion that resulted in 36 winners across various categories was held at Trans Luxury Hotel Bandung's Trans Convention Center in Bandung City, West Java Province on Dec. 4, 2024.

The award categories are Masterplan, Housing, Club House, Residential Low Rise, Residential Mid Rise, Residential High Rise, Environment, Heritage, Hotel, Industry, Mixed-Use Development, Office, Infrastructure, Purpose-Built/Public and Social Facilities, Resort, Retail, and Sustainable Development. The winners are entitled to represent Indonesia at the FIABCI World Prix d'Excellence Awards 2025, which is planned to take place in June 2025 in Lagos City, Nigeria.

The company's achievement of the Gold Winner award is based on various assessment criteria. They include demonstrating excellence in design, construction, and management, as well as prioritizing environmental aspects and the concept of sustainable development. The  FIABCI Indonesia-REI Excellence Award 2024 Gold Winner Trophy was received by PT Modern Industrial Estat President Director Pascall Wilson.

"The award from FIABCI Indonesia and REI is real proof of the dedication and hard work of the ModernCikande team. This achievement will hopefully drive [us] to continue to innovate and provide the best service to tenants. We believe that our commitment to create an environment that supports business growth will bring significant benefits to all stakeholders. Thank you for the support of all parties who have helped us achieve this achievement," said Wilson.

Pascall noted how Modern Industiral Estat's victory confirms that ModernCikande is recognized as one of the industrial areas that meets international standards and is able to provide a positive contribution to economic development and investment in Indonesia.

Of 3,175 hectares in ModernCikande's total land area, 40 percent has been developed with about 1,900 ha left. ModernCikande currently hosted more than 350 tenant companies, both local and multinational in various types of businesses. Food and beverage companies are the most numerous, followed by companies operating in the chemical, steel, metal products, and smelter sector as well as companies in the home and building materials sector.

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