Bumi Serpong Damai Aims High With Pre-Sales on Back of Promising H1

Commercial property, such as offices and malls in the company's integrated complex projects, would account for the remaining sales. (B1 Photo/ Mohammad Defrizal)

By : webadmin | on 4:19 PM July 28, 2015
Category : Business, Corporate News

Jakarta. Listed property developer Bumi Serpong Damai is aiming to reach Rp 7.5 trillion ($556 million) in pre-sales of its property projects following strong growth in the first half of this year, the company said in a statement on Tuesday.

Hermawan Wijaya, a director at Bumi Serpong Damai, said the company was confident that this year's pre-sale target would be achieved.

"Our sales growth is on the right path. This year's achievement is a result of organic growth through our property units that we develop and sell. We believe the property market will keep growing as consumers need quality homes for safe and profitable investments," he said in the statement.

The target is 15 percent higher than last year's Rp 6.5 trillion in marketing sales.

The company posted Rp 3.5 trillion in pre-sales in the first six months of this year, up nearly 30 percent from Rp 2.7 trillion in the same period last year.

Hermawan said that in the past three years the company consistently reached between 40 percent and 45 percent of pre-sales in the first half of the year out of the overall target.

The sales cycle usually increases after Idul Fitri up until November.

Hermawan also said that BSD City, the company's township on the western outskirts of Jakarta, had the most contribution to sales with Rp 4.86 trillion, or 72 percent of the total revenue last year. The project with the second-biggest contribution was Grand Wisata Bekasi, while Nava Park City contributed 7 percent, followed by Legenda Wisata Cibubur (5 percent) and the remainder from the Grand City Balikpanan, Kota Wisata Cibubur, Taman Banjar Wijaya Tangerang and Kota Bunga Bogor estates.

Bumi Serpong Damai sold 1,796 units of property in the first semester of this year, comprising landed homes, land plots, strata title apartments, industrial buildings and shophouses.

The company said landed homes accounted for most of the pre-sales, at Rp 2.49 trillion in the first six months of this year, followed by shophouses at Rp 520.69 billion.

"In the first half of 2015 we managed to sell 1,341 residential units across BSD City, Grand Wisata and our other projects in Jakarta, Bekasi, Tangerang, Balikpapan, Surabaya and Medan," Hermawan said.

Bumi Serpong Damai, a property unit of Sinarmas Land, is listed on the Indonesia Stock Exchange under BSDE.

The company's net income surged 42 percent to Rp 3.82 trillion last year from Rp 2.69 trillion a year before.

GlobeAsia

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