Henry Riady strides across a construction site in the outskirts of Jakarta, trailed by executives scurrying to keep up. He passes between half-finished tower blocks, snaps at a construction worker to put out his cigarette and shakes hands with shopkeepers. The scion of one of Indonesia’s richest families inspects a 42sqm flat for sale at $28,000 to one of the country’s rapidly expanding urban middle class.
Henry’s hands-on approach illustrates how seriously the Riady family is taking the threat to their reputation if they fail to complete the $19.5 billion residential development called Meikarta.
However, even for one of the most powerful families in Indonesia, hitting...