Indonesian property firm Bumi Serpong Damai eyes $560m pre-sales in 2015

Indonesia’s PT Bumi Serpong Damai Tbk (BSDE), a property unit of Sinar Mas Land is aiming to book Rp7.5 trillion ($559.70 million) in property pre-sales for 2015, the company said in a statement. The target is 15% higher than last year’s results Rp6.5 trillion.

In first half (H1) of 2015, the company posted Rp3.5 trillion in pre-sales, up nearly 30% from the same period last year of Rp2.7 trillion. Hermawan Wijaya, a director at Bumi Serpong Damai, said based of H1 results, the company sold 1,796 units of property comprising of landed homes, land plots, strata title apartments, industrial buildings and shop houses.

Hermawan said, landed homes accounted for most of the pre-sales, at Rp2.49 trillion followed by shop houses at Rp520.69 billion. He expressed his confident that this year’s pre-sales property target would be achieved.

“We believe the property market will keep growing as consumers need quality homes for safe and profitable investments,” he said in the statement.

Hermawan added that BSD City, the company’s township to the west part of Jakarta, had the most contribution to sales with Rp4.86 trillion. The second-biggest contribution came from Grand Wisata Bekasi project in West Java province followed by Nava Park City and Legenda Wisata Cibubur projects in East Jakarta, followed by the Grand City Balikpapan in East Kalimantan, Kota Wisata Cibubur, Taman Banjar Wijaya in Tangerang province and Kota Bunga Bogor estates in West Java.

In early 2011, BSDE completed the acquisition of an affiliated companies PT Duta Pertiwi Tbk (IDX: DUTI) PT Sinar Mas and PT Sinar Mas Exemplary Wisesa.

Its holding company, Sinar Mas Land has more than 50 large property projects that have been developed in Indonesia and has more than 10,000 hectares of land bank. Sinar Mas Land has a strong strategic partners such as Japan’s Itochu Sojitz, Hongkong Land and local partners such as Kompas Gramedia and Kalbe Group.

Sinar Mas Land Limited (formerly known as AFP Properties Limited), listed on the Singapore Exchange and headquartered in Singapore, is engaged in the property business through its operations in Indonesia, China, Malaysia and Singapore. Sinar Mas Land has long-term investments in major commercial buildings, hotels and resorts, and is involved in property development and leasing in Indonesia, China, Malaysia and Singapore.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.