BSD, Property Company Owned By Conglomerate Eka Tjipta Widjaja Targets To Raise Pre-Sales Of IDR 7.7 Trillion In 2022

JAKARTA - The property company of the Sinar Mas Group owned by conglomerate Eka Tjipta Widjaja, PT Bumi Serpong Damai Tbk (BSDE) is targeting pre-sales for 2022 of IDR 7.7 trillion. This target is equivalent to the achievement of pre-sales in 2021, but exceeds 10 percent of the target set at the beginning of 2021, which is IDR 7 trillion.

Director of BSDE Hermawan Wijaya said the sales growth was mainly supported by increased demand for better housing with a price segmentation of IDR 3 billion - IDR 5 billion.

"In general, the prospect of the property sector in 2022 continues to grow, especially for landed houses which are one of the main focuses of the company's business development. Residential growth in sub-urban areas with an integrated residential concept that supports the main business area is still the choice of consumers," said Hermawan in his written statement, quoted Tuesday, February 22.

Limited land, choice and high property prices in prime urban areas make sub-urban areas the best alternative. Especially if it is supported by road connectivity, especially toll roads and mass public transportation that facilitates the mobility of its residents.

Based on segment, sales of the landed house segment are estimated to contribute 74 percent of the 2022 pre-sale target. Meanwhile, 16 percent of commercial sales include (lots of land, shop houses, condominiums) and 10 percent of land sales.

Based on the project, BSD City is the flagship project of the Sinar Mas Land group, which has a land area of 5,950 hectares, which is targeted as the largest pre-sales contributor. The sales figure for property units in BSD City is estimated to contribute 65 percent of the total target.

The rest of the other pre-sales contributors, namely 35 percent came from Grand Wisata in Bekasi, City Wisata and Tourism Legend in Cibubur, Taman Banjar Wijaya (Tangerang), Grand City in Balikpapan, Southgate Apartment in South Jakarta, The Elements in CBD Kuningan, Apartment Aerium in Jakarta Barat and Klaska Residences in Surabaya.

"BSDE is currently still focusing on developing existing projects. Moreover, we still have a land reserve of 3,752 hectares. Our current advantage is housing in a sub-urban location with superior city-scale housing values that can be a place to live, work environment and recreation for its citizens," said Hermawan.

BSD management is optimistic that the market share of each of the company's business lines still has the potential to be developed more widely, so that the company is still trying to add strategic land reserves to its portfolio, especially areas that have obtained development permits.

To support the achievement of this year's target, BSDE will launch quality property products, be it landed houses, apartments, shop houses and other commercial units with a price range of Rp 1 billion to Rp 15 billion.

In addition, the office and retail business lines will also continue to be developed, both in the center of Jakarta and expansion into sub-urban areas such as BSD City and Aeon Mall in Tanjung Barat, with the hope that recurring income will be maintained at a proportion of above 20 percent.

Another sales strategy is the sale of land that the company is trying to build in order to build the city so that there can be optimal synergy between Bumi Serpong Damai as a seller of plots of land and investors who are interested in owning property in the BSDE development area, especially BSD City.