People Are Still Able To Buy Property In The Midst Of A Pandemic, BSD Owned By Conglomerate Eka Tjipta Widjaja Earns Pre-sales Of IDR 7.7 Trillion

Illustration. (Photo: Doc. Antara)

JAKARTA - The COVID-19 pandemic has not reduced people's interest in buying property. Evidently, PT Bumi Serpong Damai Tbk (BSDE) or BSD recorded a marketing sales value of IDR 7.7 trillion in 2021.

This figure is 10 percent higher than the IDR 7 trillion target previously set. The pre-sale value of the Sinar Mas Group property developer belonging to conglomerate Eka Tjipta Widjaja is also equivalent to a 19 percent growth from the previous year's achievement, which was IDR 6.5 trillion.

Director of BSD, Hermawan Wijaya, said that this achievement is proof of the high consumer interest in property products offered by the company. "This is an achievement in itself considering the pandemic situation which is still limiting the movement of the economy," said Hermawan in an official statement, Monday, February 14.

"The achievement of this pre-sales performance is the capital for BSD to continue creating value for sustainable growth in the future," said Hermawan.

Hermawan detailed that the residential segment was the largest pre-sales contributor with a transaction value of IDR 5.2 trillion, equivalent to a contribution of 68 percent. This segment consists of BSD landed house products such as Quantis Signature, The Blizfield, Kazumi, and Kiyomi - The Zora.

In addition, there are also contributions from residential development areas such as Mozia, Greenwich, Vanya Park, Tabebuya, The Zora, Nava Park, Banjar Wijaya Park, Grand Wisata, and Kota Wisata.

“From the existing development areas, the new clusters launched or opened in the fourth quarter are The Blizfield and Yuthica. The BSD City area is listed as the largest contributor based on projects with a contribution of 54 percent, followed by Nava Park with 14 percent," added Hermawan.

Other projects; Zora contributed 8 percent, Grand Wisata 8 percent, City Wisata 6 percent, and Legenda Wisata and Grand City Balikpapan each contributed 2 percent.

"In addition to being supported by extensive land reserves for sustainable project development. The national promotional program "Wish for Home" which offers various attractive benefits and is strengthened by a government program in the form of a VAT subsidy for every purchase of a ready-to-live property unit, making consumers more confident to buy property units that are offered both for occupancy and as a profitable investment option," said Hermawan.

The good record in the residential or residential segment was also followed by the commercial segment, which was represented by the commercial land plots, strata title (apartments), and shophouse segments which also posted positive performance. The commercial segment contributed IDR 2.1 trillion, equivalent to a 28 percent contribution to the total pre-sales throughout 2021.

This figure was sourced from commercial lots of Rp. 677 billion, most of which were sold in BSD City, strata title (apartments/condos) of Rp. 561 billion and shophouses of IDR 916 billion. Meanwhile, the vertical development units sold were mostly supported by The Elements in Jakarta, Southgate in the TB Simatupang area, Aerium West Jakarta, Klaska Residence in Surabaya, and apartment units in BSD City.

On the other hand, the shophouse segment was mostly contributed by TabeSpots, Virginia Arcade, West Park, Capital Cove, and Northridge Business Center in BSD City. Plus the sale of land plots from joint ventures which grew 83 percent to IDR 332 billion, contributing positively 4 percent to BSDE's presales throughout 2021. The sales figure came from sales to joint venture companies including PT BSD Diamond Development (ZORA), PT Sinar Mitbana Mas, and PT Sinar Mitbana Mas Intermoda with equity equivalent to BSDE ownership of 40 percent each.