Summarecon, Property Developer Of Conglomerate Soetjipto Nagaria Raup Marketing Sales Of IDR 3.3 Trillion In 2020

The Board of Directors of PT Summarecon Agung Tbk after the AGMS, Tuesday 24 August. (Photo: Doc. Summarecon Agung)

JAKARTA - PT Summarecon Agung Tbk (SMRA) managed to record marketing sales or marketing pre-sales of Rp. 3.3 trillion in 2020. This achievement exceeded the revised target set by the company, which was Rp. 2.5 trillion.

President Director of Summarecon Agung, Adrianto P Adhi after the Summarecon Annual General Meeting of Shareholders (AGMS), Tuesday, August 24, said the company's quite good performance in 2020 was also triggered by the increasing demand for property for residential and business purposes.

"The purchasing power of the people affected by the pandemic can be overcome by offering a payment scheme that is quite friendly and the interest rate on credit is relatively low. This makes property more accessible to the public," said Adrianto.

Throughout 2020, this property developer belonging to the conglomerate Soetjipto Nagaria recorded a total revenue of Rp 5 trillion. Property Development Business still contributed the highest with operating income of IDR 3.7 trillion or 73 percent of total revenue, and operating profit of IDR 1.23 trillion or 96 percent of the company's total operating profit of IDR 1.27 trillion.

Sales are still dominated by residential products, both landed and vertical as much as 79 percent, in addition to commercial and other products. The marketing pre-sales came from seven Summarecon locations, namely Kelapa Gading, Serpong, Bekasi, Bandung, Karawang, Makassar, and Bogor.

"Summarecon Bogor is the newest township that opened in October 2020 with the initial launch of 555 property units worth Rp 1.2 trillion, all of these units were sold out during 2 marketing days," said Adrianto.

Meanwhile, mobility restrictions resulted in most business operations in the shopping center, hotel and community club sectors being suspended and/or closed, reducing sources of income. The Property Investment and Management Business Unit recorded revenue of Rp894 billion, a decrease of Rp705 billion or 44 percent compared to last year's revenue of Rp1.5 trillion.

This business unit contributed 18 percent of the total revenue, of which 91 percent came from the mall and retail business.

"Geographically, Kelapa Gading is still the highest contributor with 48 percent of revenue, followed by Serpong (32 percent) and Bekasi (19 percent)," he said.

Other business segments include hotels, community recreation clubs, township management and various other facilities to support and complement the integrated work of a township. Revenue from this business fell 36 percent to Rp466 billion.

At the 2021 AGMS, the company also announced the management line.

board of Commissioners

- Soetjipto Nagaria (President Commissioner)

- Harto Djojo Nagaria (Commissioner)

- Edi Darnadi (Independent Commissioner)

- Lexy Arie Tumiwa (Independent Commissioner)

- Ge Lilies Yamin (Independent Commissioner).

Board of Directors

- Adrianto P. Adhi (President Director)

- Liliawati Rahardjo (Director)

- Soegianto Nagaria (Director)

- Herman Nagaria (Director)

- Sharif Benjamin (Director)

- Lidya Tjio (Director)

- Nanik Widjaja (Director)

- Jason Lim (Director).