BSD, A Property Company Owned By Conglomerate Eka Tjipta Widjaja Is Optimistic About Getting Pre-sales Of IDR 7 Trillion

JAKARTA - Property company PT. Bumi Serpong Damai Tbk (BSD) has welcomed the incentives given by the government for the property sector since the beginning of this year. BSD management is also confident that the 2021 performance target will be achieved.

Bumi Serpong Damai (BSD) Director Hermawan Wijaya is optimistic that the company owned by the late conglomerate Eka Tjipta Widjaja will be able to realize the marketing sales target of IDR 7 trillion this year. This is because the price of the residential products offered by the Sinar Mas Group is marketed starting from IDR 1.2 billion, while for commercial products it starts at IDR 300 million.

"With regulations without down payment, VAT-free and additional discounts that we offer will be an additional attraction for consumers, both for housing and investment, given that property prices continue to increase every year," said Hermawan in a written statement, as quoted on Friday, March 5.

Some of the residential products offered by the company owned by the number 2 richest person in Indonesia include Nava Park and The Zora in BSD City, Grand Wisata, Kota Wisata, Grand City Balikpapan, Taman Banjar Wijaya, and Legenda Wisata.

"Pre-sales of residential products are targeted at IDR 4.4 trillion, while commercial sales are IDR 1.6 trillion," said Hermawan.

Some of the commercial product units offered by the issuer with the BSDE stock code are located in the BSD City commercial area, Apartment the Element, Apartment Southgate, Apartment Akasa, and Upper West in BSD City, Apartment Aerium, and Klaska Residence.

As reported, the government has released a new incentive in the form of Minister of Finance Regulation (PMK) No.21/2021. In the regulation, 100 percent VAT incentives are given to be borne by the government for landed houses/flats with a maximum price of IDR 2 billion.

Meanwhile, for landed/flat houses with prices above IDR 2 billion to IDR 5 billion, they receive a 50 percent VAT incentive. The incentive complements Bank Indonesia's policy of 0 percent down payment for housing loans (KPR) issued last month.

"We welcome the government policy. The VAT exemption policy will benefit consumers in acquiring property products, both residential and commercial. Consumers now only spend funds equal to property prices without having to pay additional fees for taxes," said Hermawan.