HK Realtindo Eyes Rp 55b in Sales at REI Exhibition
Jakarta. HK Realtindo, a subsidiary of state-controlled construction firm Hutama Karya, is upbeat it can rack up Rp 55 billion ($4 million) in apartment sales during a week-long property exhibition, despite sluggish economic growth.
The exhibition, held at Jakarta Convention Center and hosted by property association Real Estate Indonesia, kicked off on Monday and runs until Nov. 22. The event has proved a popular platform for real estate companies to introduce new projects and products to consumers in previous years.
Muhammad Fauzan, the president director of HK Realtindo, said in a statement that first-time home buyers and those looking for investment properties would ensure there was always demand in the property market.
The company is offering nine residential projects at the exhibition and is introducing a mixed-use project dubbed H Residence Cisadane, near Soekarno-Hatta International Airport outside Jakarta.
HK Realtindo is reportedly planning an initial public offering in the fourth quarter of 2016, aiming to raise up to Rp 2 trillion by offering 35 percent of its shares.
This year, HK Realtindo aims to book Rp 850 billion in revenue and Rp 151 billion profit. The company has projected earnings of Rp 1.4 trillion and profit of Rp 250 billion in 2016.
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