Raising IDR 2.28 Trillion, Lippo Karawaci Sales Dominated by Cheap Houses. Page all

JAKARTA, KOMPAS.com – PT Lippo Karawaci Tbk ( LPKR) notes marketing sales throughout the three quarters of 2020 worth Rp 2.28 trillion.

This figure is an increase of 100 percent over the same period last year which was recorded at Rp. 1.2 trillion.

LPKR CEO John Riady said that housing projects at affordable prices remained the driving force for sales, representing 51 percent of total sales or IDR 555 billion.

Then followed by the Tanjung Bunga project in Makassar with a acquisition of Rp. 178 billion, up 52 percent from last year’s Rp. 117 billion.

Furthermore, San Diego Hills, which contributed to sales of Rp. 149 billion, an increase of 37 percent compared to 2019 with a value of Rp. 109 billion.

Also read: Lippo Karawaci Officially Closed Office Roofs for Holland Village Jakarta

With this achievement, the company is optimistic that it can exceed the target marketing sales until the end of the year amounting to Rp 2.5 trillion.

This target is expected to be realized from the sale of a number of projects including the new commercial area in Lippo Village (including the SoHo concept), and the scheduled completion of existing projects.

LPKR has launched five Cendana Homes clusters, which are the first affordable residential developments in the township of Lippo Village.

“The entire cluster was sold out in four to six hours, totaling 651 units with prices ranging from Rp 700 million to Rp 1.5 billion,” said John in a written statement to Kompas.com, Wednesday (7/10/2020).

LPKR’s performance is also supported by its subsidiary, namely PT Lippo Cikarang Tbk, which offered a third cluster at Waterfront Estates called Travertine last August.

The sales figure reached 72 percent of the total 446 units offered.

The total assets of LPKR as of June 2020 reached 3.95 billion US dollars or equivalent to IDR 58.1 trillion.

These assets consist of housing developments in urban areas, lifestyle malls and health services.

The company is also actively involved in integrated development projects, hospitality, urban development and management, as well as asset management services.

LPKR is present in 40 cities with a land reserve of 1,411 hectares that is ready to be developed through two publicly listed subsidiaries, PT Lippo Cikarang Tbk, and PT Gowa Makassar Tourism Development Tbk.

Currently, LPKR owns 84.0 shares in PT Lippo Cikarang Tbk, and 62.7 percent in PT Gowa Makassar Tourism Development Tbk.

In addition, LPKR also owns 55.4 percent of shares in PT Siloam International Hospitals Tbk, a network of private hospitals with 39 hospitals in 24 cities across Indonesia.

And finally, the company has shares in Lippo Malls Indonesia Retail Trust, which is listed on the Singapore stock exchange with assets under management of US $ 1.3 billion or Rp.19.1 trillion as of June 30, 2020.

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