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PPRO and KSI Synergize to Develop Landed House Area in “Krakatau Urban Valley”
Jakarta, August 4, 2022 – One of the developers of a subsidiary of a state-owned company, PT PP Properti Tbk (Stock Code: PPRO) is synergizing with PT Krakatau Sarana Infrastruktur (KSI) in the context of developing the “Krakatau Urban Valley” area.
Krakatau Sarana Infrastruktur is a sub-holding company engaged in industrial estates, real estate, power generation, water management, port services, information technology and other industrial services. On August 1, 2022, both parties signed a Memorandum of Understanding (MOU) signed by Fajar Saiful Bahri as Director of Business Development and HCM of PT PP Properti, Tbk and Mrs. Rosaliya Dewi Setiyorini as Director of Portfolio and Business Development of PT PP Properti, Tbk. PT Krakatau Sarana Infrastructure. This MOU is held at one of PPRO’s hotels, PARK HOTEL Cawang, Jakarta and is valid for 1 (one) year from the time of signing.
In this MOU, the two SOE subsidiaries plan to establish cooperation in the context of developing a Landed house in a residential area called “Krakatau Urban Valley” on land owned by KSI with an area of about 180 Ha (outside the golf, hotel, and Transmart area) located in Cilegon City, Banten. As for the industrial area itself, outside of Krakatau Steel and Krakatau Posco, there are currently around 8,000 employees in the area.
Director of PPRO, Fajar Saiful Bahri said, “Cilegon is the right location of choice because of the condition of the Cilegon Industrial Estate which is developing. Currently, several existing tenants will build new factories to increase their capacity. This will increase the potential demand for housing in Cilegon. In the future, in the long-term planning, the “Krakatau Urban Valley” area will be built for comfortable landed house housing with various kinds of development later on, such as residential, hotel, commercial, educational facilities and
other.”
“This MOU is a form of synergy between SOE subsidiaries and is expected to benefit both parties, in addition to taking advantage of available opportunities and competitive advantages for each party,” Fajar concluded.
About PT PP Properti Tbk :
PT PP Properti Tbk (stock code: PPRO) is a BUMN subsidiary of PT PP (Persero) Tbk (stock code: PTPP). The Company was established in December 2013, but has had experience since 1991 and the Company has now been a listing company on the Indonesia Stock Exchange since May 2015. In 2017, the Company split its share value from Rp. 100 (one hundred rupiah) to Rp. 25 (twenty five rupiah). The Company has 3 (three) business segments, namely Residential, Commercial and Hospitality. Since 1991 until now The company developed around 53 projects including 35 Residential, 12 Mall & Edutaiment, and 6 Hospitality.
