PP Property Sell Three Tower Apartments Worth Rp2.1 Trillion

INDUSTRY.co.id - Jakarta - PT PP Property Tbk (PPRO), the leading property developer in Indonesia, currently owns three apartment towers in Surabaya, East Java, namely Grand Shamaya Tower 2, Grand Dharmahusada Tower 2 and Grand Sungkono Tower 4.

"Before the three towers are launched, all apartment units in the three apartment towers are sold out for Rp2.1 trillion," said Taufik Hidayat, President Director of PPRO, in Jakarta recently.

Taufik said, it is a proof of market confidence in PPRO products of high quality, strategic location and reliable delivery time.

A buy-sell agreement between the buyer and PPRO was made at the end of March 2018. The financial closing was signed on May 13, 2018.

"The process of selling bulk selling with strategic partners like this is one way to boost sales. Currently there are also some bulk selling transactions that are in the process, "said Taufik.

Taufik explained, this bulk selling transaction encourages the company's management to achieve this year's sales target of Rp3.8 trillion with a net profit of Rp528 billion.

"With the bulk selling, besides acceleration of sales also strengthens the cash flow while improving the balance sheet quality of the company," said Taufik. (Abraham Sihombing)