PP Property Build an Independent City of 200 Hectares in Kertajati

By : Ahmad Fadli And Aldi Firhand. A | Monday, September 11 2017 - 22:16 IWST

kota Kertajati (Istimewa)
kota Kertajati (Istimewa)

INDUSTRY.co.id - Jakarta- PT PP Property Tbk (PPRO) is getting more expansive in the rest of the year. PPRO plans to acquire land in several locations. The largest, PPRO will acquire land in the Kertajati area of ​​200 hectares (ha).

Not without reason the subsidiary PT PP Tbk PT Kertajati choose. Indaryanto, Finance Director of PPRO, said that the land in Kertajati area is quite prospective, especially with the new airport development plan. "Later this region will become Aero City," said Indaryanto, last weekend.

Aero City will become an independent city with development up to 20 years to come. PPRO will hold a subsidiary of West Java International Airport.

However, Indaryanto has not been able to disclose the value of the investment that will be disbursed to acquire the land. What is clear, with the additional land before, PPRO will have a land bank of about 294 ha.

Indaryanto said, PPRO will do a lot of land expenditure for landbank in the second half of this year. The state-owned company has prepared funding to smooth the land expansion plan.

PPRO still has funding from the issuance of medium term notes and rights issue actions conducted some time ago. Because this year many add landbank, capital expenditure or capital expenditure (capex) PPRO in 2017 is greater than the projection of capex in the next few years.

PPRO plans capex over the next five years to reach Rp 10 trillion. The details, this year amounted to Rp 3 trillion, then Rp 1.5 trillion in 2018 and Rp 1.5 trillion for 2019. In 2020 and 2021, PPRO will budget capex of Rp 2 trillion and Rp 2 trillion respectively.

Until the end of August, PPRO posted pre-sales income or marketing sales of Rp 1.75 trillion. This pre-sale revenue comes mostly from sales at Grand Kamala Lagoon. That way, PPRO has reached 58% of the company's sales target this year, amounting to Rp 2.99 trillion.

News Comment

Today's Industry

Pirelli Tires

Sabtu, 20 Januari 2018 - 23:22 WIB

Astra Otoparts Cooperates with Pirelli to Launch Underbone Motorcycle Tire

PT Astra Otoparts Tbk (AUTO) through PT Evoluzione Tires in collaboration with Pirelli Tyre S.p.A presents Ban Diablo Rosso Corsa II specially designed for underbone motorcycles officially launched…

Minister of transportation Budi Karya Sumadi

Sabtu, 20 Januari 2018 - 23:17 WIB

RI-Japan Agree on Port of Patimban Subang Settlement Next Year

Indonesia and Japan agreed to the completion of the Patimban Port project in Subang, West Java, which is targeted to be completed next year.

Minister of Transportation Budi Karya Sumadi reviewed the LRT project

Sabtu, 20 Januari 2018 - 22:55 WIB

Six Indonesian-Japanese Infrastructure Industries Work Accelerated

Japan accelerated the completion of six major infrastructure projects in Indonesia as agreed by President Joko Widodo and Japanese Prime Minister Shinzo Abe.

PT Indonesia Asahan Alumunium (Inalum)

Sabtu, 20 Januari 2018 - 22:50 WIB

Inalum Targets Smelter Alumina Project Start Producing By 2021

PT Inalum (Persero) targets a smelter alumina project with Antam Tbk (ANTM) and Chalco to produce in 2021, following construction scheduled to begin in the second half of next year.

Menhub Budi Karya Sumadi (humas kemenhub)

Sabtu, 20 Januari 2018 - 22:45 WIB

Fast Train Technologies Jakarta-Surabaya Has Been Determined

The choice of (semi) fast Jakarta-Surabaya train technology has been conical to be determined but still requires more detailed study, said Transportation Minister Budi Karya Sumadi.