Property Developer Metland Attracts Ciputra And The Company Owned By Conglomerate Anthony Salim, This Is The Proof

Photo: Doc. Metropolitan Land

JAKARTA - Property developer PT Metropolitan Land Tbk (MTLA) is becoming a magnet for tycoons in the country. How not, after the arrival of Ciputra Group towards the end of 2021, the Salim Group is now "joining" as one of the shareholders of the Metropolitan Mall owner.

For information, Ciputra Group through PT Ciputra Development Tbk (CTRA) acquired 15 percent of MTLA shares in November 2021. Ciputra management explained that the corporate action was carried out through a subsidiary of PT Ciputra Nusantara.

Ciputra Nusantara bought 15 percent of MTLA shares, equivalent to 1.14 billion shares at a price of IDR 320. Thus, the company had to spend IDR 367.44 billion.

Ciputra's management claims that MTLA's share price at the time of the acquisition was already undervalued. Moreover, Metropolitan Land has a prospective landbank, excellent performance, and a solid management team.

And finally, in the middle of 2022, the Salim Group has just bought up MTLA shares. Data from PT Kustodian Sentral Efek Indonesia (KSEI) shows that the Salim Group, which is led by conglomerate Anthony Salim, through PT Indolife Pensiontama has 388,565,000 MTLA shares as of July 28, 2022.

With this ownership, the Salim Group is the largest shareholder with a share of 5.08 percent. Meanwhile, the ownership of Ciputra Group is much larger with 15 percent or equivalent to 1.14 billion shares for the same period.

In terms of financial performance, Metropolitan Land alias Metland achieved 39 percent of the pre-sales target or marketing sales until the first semester of 2022. Metland Director Olivia Surodjo recently said that in 2022 Metland is targeting marketing sales consisting of presales and recurring revenue of IDR 1.8 trillion.

"In the first semester of 2022, it has reached IDR 704 billion, compared to the same period last year, which is still below 8 percent," she said.

On the other hand, Metland said that she is not yet interested in developing property projects in the National Capital City (IKN) of the Nusantara. Olivia estimates that IKN will not develop in the near future. Her party will focus on project development in Kertajati, West Java.

"We do not expect IKN to develop in the near future. Currently, our long-term investment is in Kertajati," Olivia said some time ago.

As is known, currently MTLA has been operating Horison Ultima Kertajati Hotel since December 2021. Metland management said that the occupancy of this hotel is not too high.

However, the revenue is still in line with the expected target due to corporate and government MICE events. Meanwhile, the Director of MTLA Wahyu Sulistio estimates that the completion of the Cisumdawu Toll Road can have a significant effect on the performance of the MTLA Horison Ultima Kertajati Hotel.

"Completion of the Cisumdawu toll road will have a significant impact on us. We hope that the completion target [of the Cisumdawu toll road] can be faster," said Wahyu.