Indonesia’s Attorney General’s Office (AGO) will auction 90 South Hills apartment units in Jakarta on July 29, 2026. The combined reserve price will be Rp219.78 billion. The properties were forfeited in convicted businessman Benny Tjokrosaputro’s Jiwasraya corruption case. State auditors calculated the case caused Rp16.81 trillion in government losses over the 2008–2018 period.

JAKARTA, Thekabarnews.com—The AGO’s Asset Recovery Agency (BPA) will auction 90 units at the South Hills apartment complex in South Jakarta. This is part of the government’s continuing effort to recover assets from the PT Asuransi Jiwasraya corruption case.

The AGO scheduled the online auction for Wednesday, July 29. The units carry a combined auction limit of Rp219,779,226,669 (approximately Rp219.78 billion).

AGO spokesperson Anang Supriatna said proceeds from the auction would count as non-tax state revenue.

The government will conduct the sale through an open-bidding electronic auction on the official Indonesian Auction Portal. Participants do not need to attend physically and may submit bids online until 2 p.m. Jakarta time, based on the auction server’s clock.

The Jakarta IV States Assets and Auction Services Office [KPKNL] will administer the sale.

Prospective bidders may inspect the units at South Hills, Jalan Denpasar Raya Kavling 5–7, Karet Kuningan, Setiabudi, from July 20 to 22 between 10 a.m. and 2 p.m. The BPA will also hold online briefing sessions on July 17 and 24.

Officials stressed that the properties will be sold in their existing condition. Buyers will accept all physical and nonphysical defects, risks and administrative limitations attached to each unit, according to Liputan6.

The apartments became state assets under final court judgments in the corruption and money-laundering case involving Benny Tjokrosaputro.

The legal basis includes Central Jakarta Corruption Court Decision No. 29/Pid.Sus-TPK/2020/PN.Jkt.Pst. It also includes the Jakarta High Court’s appellate ruling and Supreme Court Decision No. 2937 K/Pid.Sus/2021.

The Supreme Court rejected appeals filed by both prosecutors and Tjokrosaputro in August 2021. The underlying judgment is legally binding, as quoted by the Supreme Court decision directory.

Tjokrosaputro received a life sentence in the Jiwasraya case. Prosecutors have since seized and sold multiple assets connected to him to execute the court ruling.

Indonesia’s Supreme Audit Agency (BPK) calculated that irregular investments in shares and mutual funds at Jiwasraya between 2008 and 2018 caused Rp16.81 trillion in state losses. The figure comprised Rp4.65 trillion from share investments and Rp12.16 trillion from mutual funds, according to BPK.

Dividing the combined limit by 90 produces a simple average of approximately Rp2.44 billion per unit. However, this calculation does not account for differences in floor area, location within the building, ownership documents, physical condition or other risks.

No independently verified appraisal reviewed for this article establishes that the aggregate limit is below the apartments’ fair market value. The limit is not necessarily the final sale price because open bidding may push winning bids higher.

In a previous Jiwasraya-related auction, prosecutors sold shares with a Rp35.36 billion limit for Rp37.87 billion after competitive bidding, according to BPA.

The South Hills auction represents another step in converting forfeited assets into state revenue. Its proceeds remain small compared with the Jiwasraya case’s Rp16.81 trillion total loss.