Jababeka Targets Sales Of IDR 2 Trillion This Year

Illustration. (Photo: Doc. Antara)

JAKARTA - Property sector company PT Jababeka Tbk (KIJA) targets sales from land development and property of at least IDR 2 trillion by 2024.

Meanwhile, the proceeds from the sale were to support the planned repurchase of US$180 million in bonds and to achieve cash balances worth IDR 4 trillion.

"To achieve a property sales target of at least IDR 2 trillion in 2024, the company will rely on selling mature land in four independent cities owned by the company," said Jababeka Founder and President Director Setyono Djuandi (SD) Darmono as stated in an official statement in Jakarta, quoted from Antara, Tuesday, July 30.

In the Jababeka Cikarang area, he said sales would be supported by expansion in the health and tourism sectors, such as Jababeka Medical City and Jababeka Movieland covering an area of 100 hectares (ha).

According to him, the two projects are ready to accommodate foreign investors with infrastructure that has been built for 20 years.

"In the Jababeka Industrial Estate, we will open the nine-stage with an area of 500 ha, specifically for investors from China. Currently, 20 hectares have been sold to nine investors," said SD Darmono.

Darmono explained that the company managed to attract investment from three Japanese companies, namely Mitsui Fudin Asia, Keihan Group, and Creed Group for residential projects, such as Kawana apartments, Wimbledon clusters, Ibuki clusters, and Paradiso Golf Villas.

"Residential and commercial sales continue to increase from January to June 2024, with a contribution of 60 percent of housing products, 37 percent of commercial or shophouses, and 3 percent of apartments," said Darmono.

In addition, he said, revenue is also expected from the sale of mature land in the Kendal Industrial Estate, which currently has 103 tenants from foreign investment and local industrial expansion.

Furthermore, he revealed that at the Tanjung Lesung SEZ, the company is exploring cooperation with investors for the construction of mixed-used marine projects, theme parks, senior living, and universities.

Meanwhile, the project is expected to take advantage of the completion of the Serang-Panimbang Toll Road by the end of 2024. "Investments from Jababeka's subsidiaries will be encouraged to support the development of the Tanjung Lesung SEZ," said Darmono.

At the Morotai SEZ, he said, the company is targeting investment from its subsidiaries for the development of fishery and tourism industry infrastructure, including cold storage, ports, hotels, and golf courses.

Investasi juga datang dari Taiwan untuk pembangunan resort dan retirement home, Jepang dengan Pembangkit Listrik Tenaga Surya (PLTS), dan China untuk pengembangan industri perikanan dan perangkalan, kata Darmono pula.