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.
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.