JAKARTA - PT Bumi Serpong Damai Tbk (BSDE) continues to strengthen its sustainable growth strategy. The developer of an independent city in Indonesia will issue bonds and sukuk ijarah to support the development of BSD City infrastructure and working capital needs.
BSDE, which is part of Sinar Mas Land, is currently developing BSD City Phase III on 2,450 hectares (ha) of the total permit area of 5,950 ha. The project is the focus of the company's long-term expansion.
The company also plans to issue bonds IV BSD worth a maximum of IDR 2 trillion and Sukuk Ijarah I worth a maximum of IDR 1 trillion. In the initial stage, the target funds raised were IDR 1 trillion. It consists of IDR 500 billion conventional bonds and IDR 500 billion Sukuk ijarah. The instrument has received idAA (bond) and idAA Syariah (sukuk) ratings from Pefindo.
The book building process, which ended on September 4, 2025, received a positive response from investors. The bonds are scheduled to be listed on September 24, 2025, with indications of yields: Series A (3 years) 6.00-6.75 percent, Series B (5 years) 6.25-7.00 percent and Series C (7 years) 6.7-7.50 percent.
BSDE has begun to develop a BSD City Phase III area of 2,450 ha out of a total of around 5,950 ha permits for the BSD City area owned by BSDE.
In terms of performance, BSDE recorded consolidated operating revenue of Rp6.39 trillion in the first semester of 2025, dominated by sales of housing units, lots of land and strata title of Rp5.55 trillion or 86.81 percent of total operating income.
The main contribution of operating income comes from 87 percent which is development revenue (reidential, commercial and lot land), while the other 13 percent comes from recurring income, such as building management, rental, and others.
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Meanwhile, the performance of consolidated net profit was recorded at IDR 1.29 trillion until the first semester of 2025.
"This achievement reflects BSDE's success in managing and marketing superior portfolios, especially residential and commercial products," said BSDE Director Hermawan Wijaya at the 2025 Public Expose Live, Monday, September 8.
As for June 2025, BSDE manages land reserves of more than 4,380 ha worth IDR 17.55 trillion, with the largest portion in BSD City. The asset will be the foundation of BSDE's long-term growth.
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