Lippo Karawaci, Property Developer Owned By Conglomerate Mochtar Riady Earns Pre-Sales Of IDR 1.21 Trillion In First Quarter 2022

JAKARTA - Property developer, PT Lippo Karawaci Tbk (LPKR), managed to book pre-sales of IDR 1.21 trillion in the first quarter of 2022. Pre-sales of the company owned by conglomerate Mochtar Riady grew by around 23 percent from the 2002 target of IDR 5.2 trillion.

LPKR CEO John Riady said the company's property business started with a good step to achieve the 2022 target of IDR 5.2 trillion by posting a pre-sales figure of IDR 1.21 trillion in the first quarter of this year. The Company will also continue to build momentum to launch real estate products in the next few months.

"We remain committed to providing quality housing at affordable prices. We continue to see strong demand from first homeowners for our residential projects, Cendana Homes in Lippo Village and Waterfront Estates in Cikarang.

In addition, we also see a great opportunity to expand our penetration. market by introducing new products at various prices. The successful launch of the Brava Homes series marks the beginning of a positive year for our property business," said Mochtar Riady's grandson, in a written statement, Thursday, April 28.

This pre-sale achievement was supported by the sale of landed house clusters targeting first-time homeowners who contributed around 71.8 percent of the total pre-sales for the first quarter of 2022.

In February 2022, LPKR launched Cendana Cove Verdant, a continuation of the Cendana Cove landed house project in Lippo Village. A total of 252 units of Sandalwood Cove Verdant were sold out within hours.

In March 2022, LPKR also launched Brava Homes, a landed house product with a higher average selling price in Lippo Village. The first cluster of this series, namely Brava @ Himalaya, was around IDR 4.1 billion per unit and a total of 12 units of Brava @ Himalaya were sold out which proves LPKR's success in expanding market penetration.

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In addition, the pre-sales achievement was also supported by increasing demand for completed projects such as Holland Village Jakarta and Embarcadero Bintaro. Demand for Holland Village Jakarta and Embarcadero Bintaro has increased 5 times since the first quarter of 2021.

To achieve the pre-sales target in 2022 of IDR 5.2 trillion, LPKR plans to continue to launch product clusters for landed houses and commercial units while expanding its market reach to the upscale segment and mid-rise apartments.