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

PT Autopedia Sukses Lestari Tbk (ASLC)

Rabu, 25 Januari 2023 - 09:30 WIB

ASLC Successfully Surpasses 2022 Used Car Sales Target via Caroline.id

PT Autopedia Sukses Lestari Tbk (ASLC), a company engaged in used vehicles auction and trading of used cars, succeeded in selling 2,481 units of used cars through used car dealers under its…

A woman is paying her attention to the Jakarta Composite Index board movement. (Document of INDUSTRY.co.id)

Kamis, 05 Januari 2023 - 22:29 WIB

New Economic Board, GOTO Share Moves Closer to Global Indices

The presence of the New Economic Board on the Indonesia Stock Exchange (IDX) brings many benefits to PT GoTo Gojek Tokopedia Tbk (GOTO). One of them is getting closer to the shares listing of…

PT Alkindo Naratama Tbk (“ALDO”)

Senin, 19 Desember 2022 - 23:51 WIB

ALDO Aims 2023 Sales to Increase More Than Double

PT Alkindo Naratama Tbk (“ALDO”), a listed company engaged in the integrated paper and chemical business are optimistic that the Company's performance in 2023 will improve, in line with…

Lauren Blasco of ACV.

Senin, 19 Desember 2022 - 22:39 WIB

Indonesian Chamber of Commerce and Industry taps AC Ventures’ ESG head to join task force

The Indonesian Chamber of Commerce and Industry (KADIN) recently tapped AC Ventures’ (ACV) Head of ESG Lauren Blasco to join its newly formed ESG task force, an elite group of stakeholders…

The CIP Utilities & Automated Reporting Analytics allows plant managers

Senin, 19 Desember 2022 - 21:50 WIB

Emerson’s New Analytics Software Automates Utilities Monitoring and Reporting for Clean-in-Place Applications

Emerson: Today Emerson announced the release of its new Clean In Place (CIP) Utilities and Automated Reporting Analytics package delivered via PACEdge™ and Movicon™ platforms on an industrial…