Property Developer Aksara Global Development Targets To Earn IDR 80 Billion In Revenue In 2021

The Spring Residences, in the Ciputat area. (Didi Kurniawan/VOI)

JAKARTA - Property development company, PT Aksara Global Development Tbk targets to be able to reap revenue of IDR 80 billion by the end of 2021. If this is achieved, the issuer coded GAMA will post a 100 percent annual increase in revenue.

GAMA's President Director, Budiawan Lebar, said that the revenue will come from two projects, namely The Spring Residence flats in Ciputat, and The Senopati Residence landed house.

"The Spring Residence contributed IDR 58.5 billion and The Senopati contributed IDR 15 billion," Budiawan said in Jakarta, Thursday, August 26.

Budiawan further explained that sales of The Spring Residence flats had reached 59 percent of the total 803 units. However, the recording of sales is recognized as new income when it is received from consumers, namely the end of 2021.

"The application of PSAK 73 regarding the recognition of apartment income can only be recorded as income if it has been handed over," he explained.

Meanwhile, he said, sales of The Senopati have reached 59 percent of the number of units. So it is planned to increase the project area by initiating the fourth phase of The Senopati.

"Moreover, some of our land has been affected by the toll road project, so we need to find new land," said Budiawan

In addition, he said, his party will aim for recurring income from 100 hectares of land in Solo Baru, Central Java.