The House Millennials, Lippo Cikarang Owned By Conglomerate Mochtar Riady Optimistic To Raise Marketing Sales Of IDR4.2 Trillion

JAKARTA - Property developer, PT Lippo Karawaci Tbk is optimistic that it can achieve this year's marketing sales target of IDR 4.2 trillion. The revival of the property sector is the reference for this LPKR stock-coded issuer looking at the rest of 2021.

Lippo Karawaci CEO, John Riady said, the movement of the property sector's performance, especially the landed housing segment, continued to experience improvement as seen in the achievement of the second quarter of 2021 financial statements.

According to global rating agency Moodys, the demand for the residential product segment in Indonesia will continue to increase and this will have a positive impact on development companies for the next 6-12 months.

PT Lippo Karawaci Tbk (LPKR) and PT Lippo Cikarang Tbk (LPCK) during the year recorded growth with an average growth of 30 percent. In the first semester of 2021, LPKR recorded final income after deducting taxes of Rp7.06 trillion, experiencing a 33.96 percent revenue growth compared to the same period the previous year of IDR 5.27 trillion.

"This is supported by the landed house sales strategy or LPKR's landed house, which packs its property products for the segment under IDR 1 billion by targeting millennial first time home buyers", said John, the grandson of conglomerate Mochtar Riady in a press release, quoted Thursday, September 23.

To date, LPKR has also succeeded in launching eight housing clusters, all of which recorded success with an average sale of 500-600 units which were sold out in just a few hours at each unit selection event.

One of the biggest contributors to revenue is LPKR's eighth cluster project, Cendana Parc North, which was just launched on September 11, 2021. The cluster offers 680 units of 2-storey landed houses and sold out within 5 hours.

The cluster offers 680 2-story landed housing units and sold out within 5 hours.

From Cendana Parc North, LPKR managed to book a pre-sale of Rp614 billion. This achievement makes LPKR optimistic that it will close 2021 by successfully fulfilling the pre-sales target of IDR 4.2 trillion, up 20 percent from the original target of IDR 3.5 trillion.

"Cendana Parc North is the eighth cluster launched in Lippo Village with a location that provides very mature new city facilities. We really appreciate and are grateful for the public's trust in the products we market. The success of the sales of these eight clusters has supported the realization of the pre-sale target. sales of IDR 4.2 trillion, which we revised from the initial target of IDR 3.5 trillion", said John.