Jakarta Setiabudi Raises Revenue Of IDR 1,722 Trillion In The Third Quarter Of 2024

JAKARTA - The property company is listed on the Indonesia Stock Exchange, namely PT Jakarta Setiabudi Internasional Tbk (JSPT) in a Public Exposure held today, Wednesday, November 20, 2024, explaining the achievement of JSPT's performance until the third quarter of 2024.

Until the third quarter of 2024, JSPT posted revenue of IDR 1.722 trillion, a significant increase of IDR 438.4 billion or 34 percent compared to the same period last year which amounted to IDR 1.284 trillion.

"The income of the hotel business segment increased by Rp287.2 billion or 27 percent which contributed very positively to the company's revenue," said Chandra Asari, Director of JSPT in the Public Exposure activity.

He explained that the increase in revenue in the hotel business segment was in line with the increase in the number of domestic tourists to 15.1 million and foreign tourists to 4.1 million as of August 2024 who visited the island of Bali where JSPT has 4 hotels in Sanur and Nusa Dua.

"JSPT's net interest as of September 2024 was IDR 236.5 billion, recorded an increase of 14% compared to September 2023," he explained.

Currently, JSPT is also still developing several projects, namely the achievement of the Hotel Division, especially renovations at the Yogyakarta Hyatt Regency, the achievement of the Residential Division, including: Setiabudi SkyGarden in South Jakarta, the Puri Botanical project in West Jakarta and Hyarta EcoVillage in Yogyakarta. Especially for the Yogyakarta Hyatt Regency, a gradual renovation is being carried out for 269 rooms which is expected to be completed by the end of 2026.

The Setiabudi SkyGarden Apartment, an apartment complex in Setiabudi Central Business District, has almost all been sold in recent years including the number of units allocated for lease, almost all of which have been sold this year.

Puri Botanical, is a housing estate in West Jakarta. Since last year, the company has marketed houses in the Lavender cluster, whose sales have been well received and almost all sold this year.

The Premium Hyarta EcoVillage residential area, is a housing estate in Jogja with an area of approximately 5 hectares, consisting of 120 houses and 9 shophouses whose sales were well received by consumers, so almost all of them were sold this year.

In addition, in the future, assets that are still in the form of land will be developed, including residential in the Sanur area by building exclusive condominiums and villas on an area of about 4.3 hectares, which will be sold to local and international consumers.

Furthermore, the Savanna Sumatra project, Deli Serdang - North Sumatra will be developed as an integrated city in North Sumatra on an area of 650 hectares. Currently, we are doing cuts and fills and preparing the infrastructure.

The Bali Collection Retail Project, which is one of the assets in the ITDC Nusa Dua area, Bali, will be revitalized by the Bali Collection, by presenting an authentic local Balinese cultural nuance. This revitalization aims to strengthen Bali Collection's position as an exclusive and classy shopping center in Bali. In addition, the Company will also present a Seafood Hub, a culinary concept that presents the best seafood flavor from all over the archipelago.

Then, Lifestyle Retail Puri Botanical, which is located in the elite area of Puri Botanical, will soon launch the latest Lifestyle Retail which covers an area of 2.5 hectares. Carrying the concept of sports and entertainment, this area will become the main destination for a modern and active lifestyle.

This Lifestyle Retail is designed to offer a complete recreation and entertainment experience, as well as a center of activity that inspires the dynamic community in West Jakarta.