Vasaka The Reiz Condo

What Vasaka The Reiz Condo does

Vasaka The Reiz Condo is a premium residential apartment development located at Jl. Tembakau Deli No. 1, Medan, North Sumatra, Indonesia, marketed as positioned at the 'titik nol' (zero point) of Medan city. The project comprises 171 units across multiple configurations including Reiz 1 BR, 2 BR, and Junior Suite (Loft) layouts, with residents sharing an extensive amenity package: Reiz Spark Pool, Gym, Business Room, Private Library, Stellar and Sterling Hanging Gardens, Grand Lobby, and Spa Room. The development holds SHMSRS (Strata Title) and SLF (Building Fitness) certifications, with smart home devices integrated into unit packages and a 360-degree virtual tour platform for remote viewing. Development is led by PT Waskita Karya Realty, a subsidiary of state-owned enterprise PT Waskita Karya (Persero) Tbk, which provides institutional brand backing and construction oversight.

The business model is a one-time unit sale developer model typical of Indonesian residential property. Revenue is generated primarily through sale of the 171 strata-title units, with prices starting from approximately Rp 400 million and supported by aggressive financing promotions: developer subsidies up to Rp 400 million, KPA (mortgage) interest starting from 4.75%, monthly installments from Rp 10-11 million, and developer installments extended to 24-36x. A 6% rental guarantee is offered to investors. The GTM motion is enterprise field sales: direct sales through two on-site marketing galleries (Jl. Tembakau Deli and Jl. Balai Kota) staffed by PT Waskita Karya Realty's sales team, supplemented by digital channels (website, Instagram @vasakathereizcondo, WhatsApp, virtual tour) and content marketing. Target customer segments span professionals/business executives, young families, property investors, expatriates, and university students from nearby Pelita Harapan University. As of 2025-2026, the project is in late-stage inventory clearance with 70-80% units sold and full handover completed; ongoing activity is focused on residual unit sales through repeated show unit launches and seasonal promotions.

Name

Vasaka The Reiz Condo

Legal name

Vasaka The Reiz Condo (developed by PT. Waskita Karya Realty)

Website

https://thereizcondo.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Vasaka The Reiz Condo is a 171-unit premium residential apartment project in central Medan, Indonesia, developed by PT Waskita Karya Realty (a state-owned subsidiary). It sells strata-title units to professionals, families, and investors with KPA financing and developer subsidies.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

Lessors of Residential Buildings and Dwellings (53111)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Condo & Apartment Rentals (Urban/Resort) (THAGANAB)

akta.pro secondary industry

Independent Living Real Estate Owners/Operators (REITs & Management Companies) (HLADAAAG)

Keywords

• Residential apartments
• Property development
• Condominium sales
• Urban housing
• Real estate investment

Headquarters

HQ city

Medan

HQ country

Indonesia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Apartment Unit Sales: One-time sales of residential apartment units to individual buyers. Revenue generated from the sale of units at various price points with developer subsidies, KPA financing, and flexible installment options.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Vasaka The Reiz Condo is a premium 171-unit residential apartment complex located at the center ("titik nol") of Medan, North Sumatra, Indonesia. The project sells condominium units across multiple configurations (Reiz 1 BR, Reiz 2 BR, and Reiz Junior Suite Loft) and bundles them with extensive shared facilities (pool, gym, library, business room, hanging gardens, spa, and grand lobby) and integrated smart home devices. It is developed and sold directly to individual buyers by PT Waskita Karya Realty, a subsidiary of the state-owned enterprise PT Waskita Karya (Persero) Tbk.

Product overview

Vasaka The Reiz Condo is a premium apartment development by PT Waskita Karya Realty located at Jl. Tembakau Deli No. 1, Medan, North Sumatra. The project offers multiple unit types including Reiz 1 BR, 2 BR, and Junior Suite (Loft) configurations. Residents enjoy extensive facilities including Reiz Spark Pool, Reiz Gym, Reiz Business Room, Reiz Private Library, multiple hanging gardens (Stellar and Sterling), Grand Lobby, and Reiz Spa Room. The property features smart home device compatibility and comprehensive amenities supporting modern urban lifestyle. The development has achieved 70-80% sales with 171 units ready for handover, and offers various payment schemes including KPA financing starting from 10 million IDR/month.

Differentiator

Problem solved

Functional benefit

Products and services

• Vasaka The Reiz Condo Premium Apartment Complex
• Reiz 1 BR A Unit
• Reiz Junior Suite (Loft) Unit
• Virtual Tour Service

Quantifiable outcome

• Capital growth potential up to 20% for property investment
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered minor and core.

• Dinas Kesehatan Kota Medan (Medan City Health Office)minorStrategic or Co-development Partner · 25 March 2020Partnership for organizing vaccination programs including COVID-19 booster vaccinations for residents. Vasaka The Reiz Condo collaborated with the health office to host vaccination drives on-site for the community.
• PT Waskita Karya RealtycoreOthersPT Waskita Karya Realty is the developer of Vasaka The Reiz Condo. It is a subsidiary of PT Waskita Karya (Persero) Tbk, a state-owned enterprise. Established October 16, 2014. The developer manages property development including Vasaka The Reiz Condo Medan among its portfolio of residential, hotel, retail, and office projects.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Yukata Suites BSD: Waskita Realty apartment project located in BSD City. Direct peer under the same developer and pricing/sales playbook, targeting Indonesian urban professionals and investors — comparable on financing structure, amenity package, and unit-mix strategy.
• 88 Avenue Surabaya: Sister premium apartment project under the same parent PT Waskita Karya Realty in Surabaya, Indonesia. Directly comparable as a Waskita-developed mid/high-rise condominium sold with similar KPA financing, smart-home features, and target investor/owner segments — same brand and business model in a different Indonesian city.
• Brooklyn (Waskita Realty): Apartment project within PT Waskita Karya Realty's portfolio. Comparable as a same-developer residential condominium using the same unit-sale, KPA-financing, and marketing-gallery go-to-market model as Vasaka The Reiz Condo.
• Vasaka Bali: Waskita Realty's Bali apartment project within the same Vasaka brand family. Directly comparable in product type, developer backing, and target segments (urban professionals, investors) — useful for benchmarking pricing, sell-through, and rental-yield performance in a different Indonesian market.
• Vasaka Nines: Waskita Realty-developed apartment project in the same Vasaka portfolio as The Reiz Condo. Shares the same developer brand, unit-sale model, promotional structure, and Indonesian mid-market/professional buyer targeting — providing a near-identical benchmark for sales velocity and pricing.
• Vasaka Solterra: Apartment project within the same Vasaka Realty portfolio as The Reiz Condo. Closely comparable on developer, brand family, product configuration (premium apartments with branded amenities), and target buyer segments across Indonesia.

Broad incumbents

• PT Summarecon Agung: Major publicly listed Indonesian township and condominium developer with strong brand recognition. Comparable as a broader incumbent in Indonesian premium/large-scale condominium development serving investors and end-users — provides a benchmark for pricing, marketing, and developer-level execution.
• PT Ciputra Development: Long-established Indonesian property developer with residential and high-rise portfolios across multiple cities. Comparable as a broad incumbent building premium apartments for middle-class and professional buyers — useful for benchmarking sales velocity and brand-driven pricing power.
• PT Agung Podomoro Land: Indonesia-listed developer specializing in mid- to high-rise apartments in major cities (including Medan-adjacent markets). Comparable for product type, KPA-led financing, and investor-targeted condominium marketing — a representative broad incumbent peer.
• PT Sinar Mas Land: Large Indonesia-listed developer with integrated townships (BSD City, etc.) and apartment products. Comparable as a broad incumbent delivering premium residences with strong brand, financing access, and amenity packages similar to The Reiz Condo's positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/vasakathereizcondo
• LinkedInlinkedin.com/company/vasaka-the-reiz-condo

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vasaka The Reiz Condo