Jakarta, Aug. 7 -- Indonesia's Deputy Minister of Housing and Settlements, Fahri Hamzah, announced plans to build 1 million vertical housing units in collaboration with the Ministry of State-Owned Enterprises (SOEs).

"We are currently exploring a scheme for 1 million vertical homes [apartments or high-rise buildings], which we discussed yesterday with the Minister of SOEs, Erick Thohir," Hamzah said in Jakarta on Wednesday.

He noted that the SOEs Ministry's involvement followed a proposal to establish an agency similar to the State Logistics Agency (Bulog) to serve as an offtaker for subsidized housing projects developed by state-owned enterprises.

"There will be an offtaker agency. That means homes built by developers and contractors ...