Indonesia seeks property management deal with Oyo, RedDoorz

JAKARTA (Reuters) - Indonesia is exploring a potential deal with Singapore-based hotel and booking startup RedDoorz and India’s Oyo to manage some state-owned properties in a bid to improve returns, a government spokesman said.

The government of Southeast Asia’s largest economy manages billions of dollars worth of assets, including some apartments and lodgings in strategic locations which it offers for rent to the public.

A collaboration with online platforms could “expand the options of asset optimalisation”, including through better digital marketing, finance ministry spokesman Nufransa Wira Sakti said.

“For now, we are exploring a potential deal with apartment managers through digital marketing systems, which are Oyo and RedDoorz,” he said.

RedDoorz, which claims to be the biggest hotel management and booking platform in Southeast Asia, declined to comment.

Oyo, which is backed by SoftBank’s Vision Fund, did not immediately respond to a request for comment.

The Indonesian government has been trying to better manage its assets, beginning by revaluing them in recent years and insuring some of them for the first time this year.

Reporting by Nilufar Rizki; Editing by Gayatri Suroyo and Muralikumar Anantharaman