Adhi Commuter Targets LRT City Sales Of Up To IDR 2 Trillion In 2023

LRT City (Photo; Doc. Antara)

JAKARTA - A subsidiary of PT Adhi Karya Tbk (ADHI), PT Adhi Commuter Properti Tbk (ADCP) is targeting the sale of IDR 2 trillion from the LRT City project, in 2023. This is in line with the operation of the Integrated Railroad (LRT) in July.

Director of Property Management of ADCP Hanif Setyo Nugroho said that the sale of LRT City products obtained by Adhi Commuter Properti last year reached IDR 1.2 trillion. He is optimistic about an increase in sales with the operation of the LRT, in the near future.

"We believe (the sale of this year) will be better. Last year, our sales were at IDR 1.2 trillion, this year we are targeting IDR 2 trillion. So, the increase in bida is up to 70 percent with this optimism," he told reporters in the Cawang area, East Jakarta, Thursday, March 2.

Hanif said, as many as five projects consist of various types of property, including vertical housing, landed houses, to offices. As for housing, Eastern Green is marketed as many as 891 units and has been absorbed up to 60 percent, currently.

Next, the LRT City Jatibening is marketed around 990 units and has been absorbed by 85 percent. Meanwhile, at Royal Sentul Park of 1,600 landed housing units, 60 percent have been sold. Meanwhile, the price offered starts from IDR 400 million.

"We hope that with the (operational) LRT this year it can become a trigger and trust prospective consumers to buy it immediately," said Hanif.

Previously, PT Adhi Commuter Properti Tbk (ADCP) noted that residential sales in integrated areas of mass transportation or Transit Oriented Development (TOD) in the third quarter of 2022 increased by 56.4 percent yoy.

ADCP President Director Rizkan Firman explained, along with the increase in sales, it also boosted the company's operating income by 44 percent from Rp292.5 billion to Rp421.5 billion.

TOD or transit-oriented development is a residence that is integrated with mass transportation, such as LRT or commuter line.

"This achievement illustrates that vertical housing / apartments with the TOD concept are increasingly in demand by the public," he said in a written statement in Jakarta, quoted from Antara, Friday, October 14.

The public is starting to understand that having a residence that is close to mass transportation, in this case Light Rapid Transit (LRT) makes the quality of life increase, cost-effective with the use of mass transportation which provides convenience in people's mobility with high productivity.

The three highest supporting projects in ADCP marketing sales contracts in 2022, including Adhi City Sentul (landed houses), LRT City Tebet (apartements), and LRT City Bekasi (apartements).