PP Property Sell Three Tower Apartments Worth Rp2.1 Trillion

By : Abraham Sihombing And Aldi Firhand. A | Tuesday, May 15 2018 - 21:59 IWST

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)

News Comment

Today's Industry

Wellington College Independent School Jakarta (WCIJ)

Senin, 29 April 2024 - 05:02 WIB

One of the UK’s Most Established Schools Chooses Jakarta for Their Latest Opening

Wellington College Independent School Jakarta (WCIJ) is thrilled to announce its grand opening in September 2024! As the first private UK school to open in Indonesia, WCIJ, a pioneering co-educational…

Presiden Jokowi

Selasa, 23 April 2024 - 10:29 WIB

President Jokowi Reaffirms Commitment to Farmers’ Welfare

President Joko “Jokowi” Widodo on Monday (04/22) inspected corn harvest in Boalemo regency, Gorontalo province. “Our corn import has decreased significantly from 3.5 million tonnes to…

Photo: Aris Nurjani/VOI

Rabu, 28 Februari 2024 - 12:47 WIB

Carsurin and NBRI Strengthen Strategic Alliance to Propel Indonesia’s EV Industry

PT Carsurin Tbk ("Carsurin") and the National Battery Research Institute ("NBRI") are pleased to announce the signing of a pivotal Strategic Alliance Agreement (SAA), marking a significant advancement…

Beras (Foto/Rizki Meirino)

Rabu, 21 Februari 2024 - 08:43 WIB

Gov’t to Continue Disbursing Rice Assistance

President Joko “Jokowi” Widodo has ensured that the Government will continue rolling out the rice assistance program for low-income families. The President made the statement when handing…

Ilustrasi pabrik beras. (Foto: DetikFood)

Rabu, 21 Februari 2024 - 08:40 WIB

Bapanas Head Ensures Availability of Rice Stock Ahead of Ramadan

The National Food Agency (Bapanas) has ensured the availability of rice for the fasting month of Ramadan and Eid al-Fitr 1445 Hijri/2024 CE. “We believe that there is enough rice for the fasting…