JIS signed a fifteen-year Land Lease Agreement (with priority of extension for another fifteen years) on CIL land with LMAN (Lembaga Management Asset Negara - State's Asset Management Agency) on Wednesday, February 28, 2018.
LMAN has been appointed by the Ministry of Finance to oversee all state's assets in Indonesia, including CIL land. The last CIL land lease agreement was signed between JIS and the Directorate General of State's Revenue which was valid from 2013-2018. LMAN acknowledges the strategic value of JIS, not only its contribution in the educational sector, but also its role as one of the anchors for foreign direct investment in Indonesia, supporting the overall investment climate.
University of Indonesia research has concluded that 51% of expatriate parents whose child/children are currently at JIS would not have relocated to Indonesia if it were not because of JIS, an internationaly-recognized school. LMAN supports the idea that a long-term and affordable land lease provides long-term legal and commercial certainty to JIS so the school is able to continue its strategic partnership with the Indonesian Government.
In the photo are Dr. Tarek Razik, head of school (far left) and Phil Rickard, JIS Board of Trustees chairperson, with two GOI members following the lease signing.