247 Percent Surge In Commercial Lot, PANI's Success Strategy Amid Economic Challenges

Photo: Doc. PT Pantai Indah Kapuk Dua Tbk (PANI)

JAKARTA - Despite the decline in people's purchasing power throughout 2024, PT Pantai Indah Kapuk Dua Tbk (PANI) recorded an impressive performance in the property sector. The company managed to book pre-sales of IDR 6.01 trillion, surpassing the 2024 target which has been revised to IDR 6 trillion.

Vice President Director of PANI, Alexander Halim Kusuma, revealed that this success was supported by the launch of 12 new projects during 2024. These products include residential and commercial properties that received positive responses from the market.

"The high consumer interest in property products offered, both residential and commercial, reflects strong market confidence in the quality and added value of property products provided by PANI," Alexander said, as quoted from the information disclosure of the Indonesia Stock Exchange (IDX), quoted Monday, January 27.

This achievement shows PANI's commitment to providing quality products that suit market needs, although global and domestic economic challenges are still being felt. This success also strengthens PANI's position as one of the main players in the country's property industry.

According to Alexander Halim Kusuma, this success cannot be separated from the acquisition strategy of land banks through the Increase in Capital with Pre-emptive Rights (PMHMETD) II in December 2023, as well as the Increase in Capital Without Pre-emptive Rights (PMTHMETD) in August 2024. As a result, PANI's total land bank has now reached 1,876 hectares, which is a strategic basis to support its annual pre-sale target.

Of the total pre-sales of IDR 6.01 trillion, the largest contribution came from commercial lots with a value of IDR 2.9 trillion (48 percent). The residential segment contributed IDR 1.9 trillion (33 percent), while commercial products such as shop houses, shop houses, and SOHO recorded IDR 1.2 trillion (19 percent).

Alexander added that commercial plot sales recorded a remarkable growth of 247 percent year-on-year (yoy) compared to 2023. This increase was driven by the development of the PIK 2 Central Business District (CBD), including the launch of NICE as a new icon in the region. NICE serves as the main driver of the Meetings, Incentives, Conventions, and Exhibitions (MICE) sector.

Pre-residential sales also recorded a significant increase of up to 386 percent (yoy), thanks to the advancement of new cluster marketing at PIK 2.

For commercial products, such as shophouses, shophouses, SOHOs, and warehouses, stable growth is 4 percent (yoy) compared to the previous year. Excellent products such as Rukan Marina Bay, Rukan Lau Pa Sat, Ruko Little Siam, SOHO Sungey Boulevard, SOHO Miami, and Bizpark PIK 2 are the main contributors to this segment.