I Gede Upeksa Negara
Build and Serve for Indonesia
Dear Shareholders and Stakeholders,
Praise and gratitude to God Almighty for all His grace.
The ongoing vaccination process makes us optimistic to be more active in carrying out activities while still following the health protocols according to the latest directives from the government. The vaccination period is the right time for the property sector to start accelerating its business. The recovery of the property sector by adapting products and services and accommodating market behavior that has changed from the Covid-19 pandemic to preparing for the end of the pandemic. We implement Cleanliness – Health – Safety – Environment Sustainability procedures in residential, shopping mall, edutainment and hotels.
We grateful to the government for providing a stimulus to drive the economy, including the property sector. The BI rate reduction to 3.5% was announced by Bank Indonesia on 18 Feb 2021 with the Loan to Value (LTV) relaxation for property loans and Financing to Value (FTV) for property financing, which were ratified through Bank Indonesia regulation no 23/2 /PBI2021 and the existence of a new housing sector incentive policy with VAT borne by the government based on the Minister of Finance Regulation (PMK) number 21/PMK.010/21 which is planned to be extended until December 2021, was welcomed by business people in the property sector including PT PP Properti Tbk .
PT PP Properti Tbk is adaptive in responding to several supports and stimuli provided by the Government in the Pandemic Era. With several coöperation programs with banks and a combination of reducing interest rates by BI and subsidies that we provide to consumers. The VAT incentive borne by the government also greatly reduces the purchase price of consumers without reducing the "value" obtained.
Improved digital implementation has been carried out for the acceleration and transparency of business processes and service delivery to customers. Internet of Things is part of the solution in system management and product and service creation. We always improve the competence of human resources and information & technology infrastructure for the sustainability of PT PP Properti Tbk's performance and resource excellence.
PT PP Properti Tbk continues the handover of 7 vertical residential locations, dominated by student residences, which has been going on since early 2021 until now. The behavior of residents who prefer open air for exercise and leisure activities, we responded by adding green areas in mixed used areas and open sports facilities in student residences. Currently we are starting to offer landed house product development, including Permata Puri Cibubur and will soon be followed by the next landed house product.
Our business development always pays attention to the needs of its residents, one of the integration between housing and daily needs equipped with eduitainment. We developed this concept in the Grand Sungkono Lagoon area which is the new lifestyle mall and edutainment destination in Surabaya. Lagoon Avenue Sungkono Mall and KidZania Surabaya, have operated since December 2020 while still serving according to Health protocols. Lagoon Avenue Sungkono provides people's needs for entertainment, food and beverages, social events, supermarkets and others.
PP Properti develop several hotels in Pekanbaru - Jakarta - Bandung - Surabaya - Balikpapan - Lombok, which are recurring income.
In addition to focusing on business development, PT PP Properti Tbk continues to pay attention to the surrounding environment by carrying out several Corporate Social Responsibility activities including holding a Hospitality Short Course on 16-17 February 2021 in West Monjok Village, Selaparang District, Mataram City. In addition, we also provide educational assistance for children from families of employees who work within PT PP Properti Tbk.
The Board of Directors would like to thank all resident owners, tenants, hotel guests, mall visitors, consultants, contractors, suppliers, press media, business partners and all customers, as well as to shareholders and all stakeholders for the support given to PT PP Properti Tbk. We give our highest appreciation to employees who always work by upholding the values of AKHLAK (Many – Competent – Harmonious – Loyal – Adaptive – Collaborative) and always provide competencies that contribute to the success of PT PP Properti Tbk.
Thank you to the Board of Commissioners of PT PP Properti Tbk and the Parent Company, namely PT PP (Persero) Tbk for their supervision and direction.
I Gede Upeksa Negara