Jakarta. Pantai Indah Kapuk Dua (PANI), the developer behind the superblock Pantai Indah Kapuk 2 (PIK2) in North Jakarta and Banten, reported pre-sales (marketing sales) of Rp 3.3 trillion ($204.6 million) in the first half of 2024, marking a 191 percent increase from Rp 2.35 trillion in the same period last year. This achievement represents 60 percent of PANI's annual pre-sales target of Rp 5.5 trillion.

"This substantial growth is primarily due to the addition of 12 new projects following the completion of our second rights issue, allowing PANI to acquire seven new subsidiaries with a total land bank of 850 hectares, which has begun contributing to pre-sales in 2024," said PIK2 management in an official release on Tuesday.

Commercial land continues to be the largest contributor to marketing sales for the second half of the year, amounting to Rp 1.6 trillion (49 percent). This was followed by residential pre-sales of Rp 895 billion (27 percent) and commercial products, including shop houses, SOHOs, and warehouses, at Rp 801 billion (24 percent).

Marketing sales from commercial land in the first half of 2024 grew by 194 percent year-on-year, up from Rp 545 billion in the same period of 2023. This new interest has come from local companies and entrepreneurs looking to acquire land in the central business district of PIK2.

Additionally, residential sales surged by 562 percent year-on-year, reflecting significant progress in construction and the amenities available around PIK2.

"Last but not least, our commercial products achieved marketing sales of Rp 801 billion in the first half of 2024, a 76 percent increase year-on-year. This success can be attributed to the high volume of visitors to PIK2, especially during holiday periods, which nearly reached 1 million people," added PIK2 management.

Projects launched and marketed in the first and second quarters include commercial products such as Rukan Marina Bay, SOHO The Bund, Bizpark PIK2, Rukan Petak Sembilan (Cin Te Yen), Rukan Lau Pa Sat, Rukan Little Siam, SOHO Miami, and SOHO The Riverside Boulevard. Residential offerings include Bukit Nirmala, Pantai Bukit Villa, Ilona @Pasadena Hills, Pasadena Spring, Sapporo Residence, Rumah Milenial, Permata Hijau Residence, Pasir Putih Residence, Permata Golf Residence, and The Golf Signature.