Rosy Q1 Marketing Sales Boost Puradelta's Confidence for 2017
Jakarta. Integrated property developer Puradelta Lestari achieved more than a third of its 2017 marketing sales target in the first quarter, boosting confidence for continuing strong sales in the rest of the year.
Puradelta booked Rp 559 billion ($41.9 million) in marketing sales – or sales of an unfinished property – in the January-March period, the company said in a statement on Tuesday (04/04). The developer has set a Rp 1.5 trillion marketing sales target for this year, which is 36 percent higher than last year.
The marketing sales in the first quarter consisted mostly of the sale of 29 hectares of industrial land to companies in the pharmaceutical and automotive sectors. Puradelta derived its revenue from the sale of industrial, residential and commercial units.
"The company's achievement this year is indicating a positive trend in the property sector that has been going up since the second semester last year," Puradelta Lestari independent director Tondy Suwanto said in a statement.
The company said the demand for industrial land has been improving this year, showing that investors have started to gradually realize their investments.
Puradelta, which is part of tycoon Eka Tjipta Widjaja's property group Sinarmas Land, will also develop and market residential and commercial property this year.
"We will launch the residential projects in this first semester as we are planning to aggressively develop our non-industrial business segment," Tondy said.
Puradelta's commercial business segment booked Rp 17 billion in revenue last year, tripling the Rp 5.54 billion revenue a year earlier.
The company said one of the contributors to its commercial business unit was the sale of El Premio, a shophouse project, which was launched last December.
The developer posted Rp 757.2 billion in net income last year, an 80 percent decline from the year earlier, due to challenging economic conditions last year, which affected consumers' buying power.
Puradelta is known for its signature project, Kota Deltamas, an integrated township located in Cikarang, West Java, with a total development area of 3,053 hectares.
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