Lippo Controls 1,411 Hectares of Land Ready to Build Pages all

JAKARTA, KOMPAS.com – PT Lippo Karawaci Tbk (LPKR) controls a land area of ​​1,411 hectares spread throughout Indonesia.

Land or land bank This controlled land is mature land that is ready to be developed as a property product that includes residential, commercial and other types of property.

Part of the land is located in Bekasi for the development of Lippo Cikarang and Tanjung Bunga, Makassar.

These two development areas are under the management of PT Lippo Cikarang Tbk, which is 84.0 percent owned by LPKR.

Meanwhile, at PT Gowa Makassar Tourism Development Tbk, which operates Tanjung Bunga, LPKR owns 62.7 percent of shares.

LPKR CEO John Riady said that until now, LPKR was present in 40 cities throughout Indonesia with various projects ranging from affordable landed houses, apartments, shopping centers, hospitals, to cemeteries.

Also read: Raising IDR 2.28 Trillion, Lippo Karawaci Sales are Dominated by Cheap Houses

For hospitals, John said, LPKR owns 55.4 percent of PT Siloam International Hospitals Tbk, with 39 properties in 24 cities.

LPKR also has shares in Lippo Malls Indonesia Retail Trust, a REIT which is listed on the Singapore stock exchange with assets under management worth US $ 1.3 billion or the equivalent of Rp.13.1 trillion as of June 30, 2020.

As for total assets, the company that was started by Mukhtar Riady has a value of 3.95 billion US dollars or equivalent to Rp 58.1 trillion.

Performance in Quarter III-2020

For nine months in 2020, LPKR recorded marketing sales worth Rp 2.28 trillion, or an increase of 100 percent over the same period last year of around Rp. 1.2 trillion.

John said that housing projects at affordable prices remained the driving force for sales, representing 51 percent of total sales or Rp. 555 billion.

Then followed by the Tanjung Bunga project in Makassar with a acquisition of Rp. 178 billion, up 52 percent from last year’s Rp. 117 billion.

Furthermore, San Diego Hills, which contributed to sales of Rp. 149 billion, an increase of 37 percent compared to 2019 with a value of Rp. 109 billion.

With this achievement, the company is optimistic that it can exceed its marketing sales target by the end of the year of Rp 2.5 trillion.

This target is expected to be realized from the sale of a number of projects including the new commercial area in Lippo Village (including the SoHo concept), and the scheduled completion of existing projects.

LPKR has launched five Cendana Homes clusters, which are the first affordable residential developments in the township of Lippo Village.

“The entire cluster was sold out in four to six hours, totaling 651 units with prices ranging from Rp 700 million to Rp 1.5 billion,” said John in a written statement to Kompas.com, Wednesday (7/10/2020).

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