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Facing 2021, PP Properti Prepares Sustainability Strategy

Jakarta, February 4, 2020 – PT PP Properti Tbk will carry out two strategies entering the second half of 2021. On the other hand, the property developer is aiming for marketing sales of around Rp 1.38 trillion with a working capital budget of around Rp 438 billion this year. “First Semester – 2021, the company focuses on portfolio management. Furthermore, in Second Semester – 2021, the company carries out a market development and market penetration strategy, “said Sinur Linda Gustina, President Director of PP Properti Tbk, in a virtual discussion PP Properti Moves to Face the Property Business 2021, Thursday (4/2/2021). According to Linda, with the distribution of Covid-19 Vaccine, it will increase the activities of individuals and business groups and be able to activate all lines of economic driving.

Effective vaccination can generate more confidence to interact. “Vaccinating all levels of society really takes time, but the role of the Indonesian Government and all countries in the world is already seen. So we are optimistic in the first quarter of 2021 and thereafter hopefully the conditions will continue to improve,” she said. Linda explained, the Company has three business lines, namely residential, consisting of area development, apartments and landed houses. Mall & Edutainment, consisting of lifestyle malls and eduparks, and Hotels consisting of business and leisure hotels. “All of the projects we have developed are located in strategic locations, connected to a lifestyle venue and infrastructure, also internet connectivity that supports work from home (WFH) activities,” said Linda. For landed houses, she added, the Company will develop several projects in Semarang, Cibubur and Bandung. “The total land area for landed houses development plan is around 30 hectares,” she explained. Meanwhile in 2021, PP Properti is targeting marketing sales of around Rp1.38 trillion from three business lines.

“Our biggest contribution is still from residential areas,” said Linda. In order to support this year’s performance, PP Properti has prepared a capex of around Rp 438 billion. Capex is used for carry-over projects. “Among them are the subsidiary’s capital deposit of around 18%, malls & edutainment 25%, hotels 19%, and payments for land owned by around 37%,” said Linda. PP Properti currently has completed eight residential projects, operates and owns a shopping center in Surabaya, Bekasi and Balikpapan. In addition, it has five hotels spread across Jakarta, Bandung, Surabaya, Balikpapan and Pekanbaru as well as one hotel under construction in Lombok.