Lippo Karawaci Owned By Conglomerate Mochtar Riady Targets Rp4.2 Trillion Marketing Sales By The End Of 2021

JAKARTA - PT Lippo Karawaci Tbk (LPKR) targets revenue to grow 30 percent by the end of 2021 compared to last year. The confidence of the property developer belonging to the conglomerate Mochtar Riady is supported by three business lines of property development, health, and rental properties.

Lippo Karawaci CEO, John Riady, said the property business is getting better along with increasing community mobility and decreasing COVID-19 cases. According to him, several incentives from the government, low-interest rates, and high demand in the millennial segment are other driving factors.

"LPKR is also optimistic that it will record pre-sales revenue of Rp. 4.2 trillion until the end of 2021. This is mainly supported by the landed housing segment", said John in an official statement, quoted Friday, November 19.

John further explained that the demand for the landed house segment in Lippo Village is high. In addition, the company is preparing to launch the latest flagship product of the Cendana Series at the end of November.

"We are optimistic about the property business in 2021. We also project LPKR's growth in 2021 to reach 30 percent compared to 2020", said John.

In the property business, said John, rentals such as malls have also increased significantly because they have benefited from the easing of Community Activity Restrictions (PPKM).

"To boost revenue, LPKR plans to lower the mall rental discount from 30 percent to full rental or no rental discount in December 2021", he added.

Besides property, continued John, the hospital business also continues to show positive signals with more frequent visits for non-COVID-19 medical care. Currently, non-COVID-19 service revenue at Siloam Hospital is recovering to a level of 96 percent.