High co-living for enthusiasts, Cove Announces Expansion to Surabaya and Yogyakarta

Jakarta, April 28, 2025 – CoveProperty Technology Company (Proptech) which carries the concept of “Flexible Co-Living”, announced the expansion of the company to the two new cities on the island of Java, namely Surabaya And Yogyakarta to meet the request of the residential living together which continues to increase. This step is expected to participate in expanding the access of the Indonesian people to more living together Quality, support in maximizing property assets, as well as new jobs for the surrounding community.

Along with the expansion of the two new cities, Cove remains committed to increasing portfolios in the Greater Jakarta and Bali regions, both in the form living together Exclusive (low to medium), living together which focuses on tourism accommodation, as well as high -rise In the form of an apartment. This expansion is in line with the company’s target to open 2,400 new rooms In Indonesia at the end of 2025.

“In the midst of economic uncertainty that presents challenges to many companies Pioneering In Indonesia, Cove maintains the performance of a strong company with residential level Which penetrated 80 percent in the first quarter of 2025, increased from the previous year in the same period. With the continued development of the enthusiasm of the Indonesian people to the residence living togetherWe continue to try to provide quality property for more consumers, one of which is through our latest expansion, “said Rizky Kusumo, Country Director of Investment, Cove.

COVE READY TO MAKE MIRROR Urban life In Surabaya and Yogyakarta

At the end of the first quarter of 2025, Cove had opened its first property on Surabaya The title Sanmara Cove. Located at Mulyorejo’s strategic point, Cove Sanmara offers dwellings living together Monthly with close access to Airlangga University, the Sepuluh November Institute of Technology, Pakuwon City Mall, and various other strategic points. One month launch, 80 percent of the rooms in this property have been rented out, underlined the large market interest in living together. Seeing this potential, in the near future Cove will soon launch a number of other new properties in Surabaya, precisely in the Krembangan, Sawahan, supporting Kupang, and Rungkut regions.

Coves have also begun to enter the market Yogyakarta specifically for consulting and technical service offers living together. The business lines that have been implemented in other cities are offered to help property owners in Yogyakarta in maximizing their assets. With expertise in the industry living together, In this business line COVE provides feasibility study services, market research, financial projections, and planning and assistance in building conversion into business investment living together which is beneficial.

With the high market demand in Indonesia, the expansion of covers in 2025 will continue. In addition to the expansion that has been announced, the Cove is currently also in the preparation stage to bring the presence of residential products living together to one of the new cities that will strengthen the company’s visibility in the country.

Ambitions to add portfolios in Jabodetabek and Bali remain large

In addition to expansion to several new cities, Cove continues its expansion in Jabodetabek and Bali. The expansion of the coverage of the Cove in Jabodetabek will remain focused on TOD (Transit -oriented development), especially with the presence of various new modes of transportation such as LRT, KCIC, and expanding the MRT route. This strategy is in line with how the latest internal survey shows that nearly 40 percent of residents decide to stay in the cover because of the close distance to public transportation.

In terms of property format, this year the Cove is incessantly presenting a building Developing high-rise that lives together In the form of an apartment, with the aim to accommodate more segments of young families, especially with 2BR residential offers. Offer Residential living together In the apartment property comes in a cooperation with a number developer Famous, like MERAKEY COVE with Mustika Land In Cikarang, Cove GP Plaza with Gapura Prima Group in Palmerah, and a new property in the Gading Serpong area with Group JHL which will be launched in the near future.

As for the Bali market, Cove will continue to put a big focus on providing accommodation living together Short term aimed at tourists. In 2024, the number of foreign tourists in Bali had exceeded the number before Pandemic, showing the recovery of a strong tourism sector. In line with this trend, in the same year Cove recorded the number of rooms in Bali doubled compared to the previous year. Unlike other cities that are more focused on monthly dwellings, the Cove property in Bali is present not only in form living together Exclusive, but also hotels, villas, and bungalows to accommodate daily room demand in markets that are dominated by tourists. In the future, the Cove will continue to bring accommodation that carries value living together In Bali’s strategic points with high standards and comfortable access to local tourist centers.

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About Cove

Cove is a property technology company (Proptech) which carries the concept of “Flexible Co-Living” in a variety of ready-to-live properties with complete facilities and strategic locations. At present, Cove has been present in more than 150 locations inhabited by 30,000 people in Indonesia every month, both monthly and daily.

Founded in 2018 in Singapore, Cove has been present in several major cities in Indonesia since 2020 and has been operating in Japan and South Korea. Cove applications can be downloaded at Application store And Google Play. Get the latest information from COVE via Cove.id/press, Instagram @cove_idAnd Tiktok @cove_id.