3rd Quarter of 2017, PT PP Property Projected Sales Up 60 Percent

By : Hariyanto And Aldi Firhand. A | Monday, October 16 2017 - 22:10 IWST

PT PP
PT PP

INDUSTRY.co.id - Jakarta - PTPP Properties Tbk projected to pocket sales in the third quarter of 2017 amounting to Rp2, 33 trillion, up 60% compared with the same quarter 2016.

Director of PPRO Taufik Hidayat said that the achievement plan will boost net income which is predicted up to the third quarter of this year amounting to Rp275 billion.

"The company is optimistic that this year's target will be achieved in which each of the Company's products starting from Hotel and Residential will contribute to the achievement of PPRO performance," Taufik said in a press release on Monday (16/10/2017).

He added that this year's performance will close with the achievement of profit projected to Rp425 billion-435 billion. At the end of the year, PPRO will launch several products including Weston View Apartments in Surabaya, Louvia Student Apartment in Jatinangor Bandung and soft opening Mall Lagoon Avenue Bekasi.

In addition, in the near future will be groundbreaking in several projects, such as Grand Shamaya in Surabaya, Begawan Apartments in Malang, Tower Victoria and Tower Isabela in GKL Bekasi, continue Tower 2 at Amartha View, Tower 2 & 3 The Alton Apartments in Semarang.

On October 10, PPRO together with the Parent Company PT PP (Persero) Tbk conducted groundbreaking TOD concept development in Juanda Station and Tanah Abang Station.

"We are trusted to develop these two areas, TOD Juanda will build 2 towers of 627 units on a land area of ​​5903 square meters" he continued.

With regard to the growth of the Company's landbank since the rights issue proceeds, to date the number of land banks has increased to approximately 100 hectares and is expected to be 200 hectares by the end of this year.

In acquiring the landbank, the Company applies the Risk Management principle and conducts a feasibility study study involving professional consultants so that the acquired landbank is believed to provide optimal results for the development of the property business.

"With the increase of land bank this year, the number of project sites that will be ready to be developed in 2018 will be 26 sites from 14 sites this year, because next year, PPRO will focus our production on our existing land bank," he explained.

News Comment

Today's Industry

COVID-19 Emergency Hospital in Kemayoran Athletes Village (Photo by: PR of Ministry of Health)

Kamis, 13 Mei 2021 - 06:10 WIB

Gov’t Completes Incentive Payment for Volunteers at Kemayoran Athletes Village

Ministry of Health, on 6-10 May 2021, has completed incentive payment of December 2020 for 1,613 volunteers working at COVID-19 Emergency Hospital in Kemayoran Athletes Village amounting to…

Vice President Ma’ruf Amin chairs a virtual meeting of the Regional Autonomy Advisory Council (DPOD), Tuesday (11/05). Photo by: BPMI of Vice Presidential Secretariat

Kamis, 13 Mei 2021 - 05:00 WIB

Special Allocation Fund during Pandemic Must be Managed in Accountable Manner: VP

The use of Special Allocation Fund (DAK) during the COVID-19 pandemic must take into account the accountability principle, Vice President Ma’ruf Amin has said.

Minister of Religious Affairs Yaqut Cholil Qoumas, Chairperson of the Indonesia Ulema Council (MUI) KH Abdullah Jaidi, and Deputy Head of Commission VIII Ace H Syadzili

Kamis, 13 Mei 2021 - 03:50 WIB

Eid al-Fitr Falls on Thursday, Gov’t Announces

The Government has announced that the first day of Shawwal 1442 Hijri, which marks the Eid al-Fitr 1442 Hijri celebration, falls on Thursday, 13 May 2021.

Minister of Manpower Ida Fauziyah. (Photo by: BPMI Documentation)

Kamis, 13 Mei 2021 - 02:45 WIB

Manpower Minister: Companies Must Protect Loading-Unloading Workers through Social Security Programs

Minister of Manpower Ida Fauziyah told companies to protect their loading-unloading workers (TKBM) through social security program for workers.

Minister of Transportation Budi Karya Sumadi inspected transportation service during the mudik ban period (11/05/2021). (Photo by: PR of Ministry of Transportation)

Kamis, 13 Mei 2021 - 01:39 WIB

Logistics Transport Movement During Mudik Ban Jumps by 70%

Movement of logistics transport via sea toll road has dramatically increased by about 70 percent during the period of mudik (Eid homecoming period) ban, according to Minister of Transportation…