PP Properti TBK (PPRO), a leading property developer, will boost land acquisition in the third quarter of this year. This will support the growth of sustainable performance in the future.
Taufik Hidayat, President Director of PPRO, said the company sees opportunities for good property demand growth in the mid-market. “The land we acquired has a strategic location for project development for the mid-market,” said Taufik.
The addition of land reserves is supported by strong funding, after PPRO conducted a rights issue earlier this year. “Until the third quarter of this year, we boosted the additional land banks, which will start in the fourth quarter of 2017 and we will focus on production and sales by next year,” said Taufik. PPRO will keep the interest bearing ratio by less than one time in 2017 and next years.
At the end of this year, PPRO will launch several products, including Apartments in Wiyung Surabaya, Apartments in Jatinangor, Bandung, Tower 2 Amartha View, Tower 2 and 3 The Alton Apartments in Semarang, and soft launching of Lagoon Avenue Bekasi. The company is also implementing groundbreaking for several projects, such as Grand Shamaya in Surabaya, Begawan in Malang, Amartha View Tower 2, The Alton Apartments Tower 2 in Semarang, and Tower Victoria GKL in Bekasi.
In 2018, PPRO will launch several new products, including Apartments in Paragon Semarang, Apartments in Kertajati, Apartments in Jogja and Cibubur. The company also continues the development of the Verde Tower project in GKL, Ayoma Tower 2, Tower 3 GSL and Tower 2 GDL in Surabaya, Tower 2 Grand Shamaya, and projects in Semarang. (*)