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PPRO Strategy To Minimizes Pandemic Impact
FOCUS FOR COMPLETION OF THE PROJECT FOR HANDLING THIS YEAR
Jakarta, 5 May 2020 – The leading property developer in Indonesia, PT PP Properti Tbk (stock code: PPRO) has several strategies in dealing with the uncertainty of the current pandemic conditions. In general, current conditions have an impact on performance achievement, in almost all industries including the property industry.
Taufik Hidayat President Director of PPRO explained “In facing the current conditions, we have prepared a number of anticipatory steps and are currently undertaking to minimize the impact of the pandemic on performance in the Realty, Hospitality and Commercial segments” he said.
These anticipatory steps include:
- The company is delaying new capital expenditure plans (Capex)
- Making business costs and operational costs efficient, one of them is by limiting operational hours in a number of hotels and shopping malls
- Focus on handover of apartment units
- Focus on developing existing land.
- For product promotion activities, the company is intensifying digital marketing activities, through collaboration with the Digital Agency and Online Property Marketplace, which aims to facilitate the process of disseminating marketing information and communication to consumers.
Known In the Realty sector, the company is focused on completing the construction process of apartments that are ready to be handed over this year, where the units have already been sold and the construction of the apartments is underway. Some of the items to be handed over this year include; in Surabaya there are Grand Sungkono Lagoon Tower Caspian and Grand Dharmahusada Lagoon, in Malang-Begawan apartments, in Semarang-Amartha View and The-Alton, in Depok – Evenciio and in BSD-The Ayoma Apartment.
Taufik added, “the handover of these units to consumers will increase the draw done (payment) from the bank to the Company for consumers who pay by KPA, so that the company’s cash flow is maintained”.
“In uncertain market conditions, we have made some of the best decisions for our employees, consumers, stakeholders and shareholders, as well as giving special appreciation to consumers, especially large consumers who still meet their payment obligations “said Taufik.
If the Pandemic ends in June 2020, the company plans to launch several projects including new apartments around Petra University of Surabaya, around UGM Yogya and a landed house in Cibubur, by looking at the post covid market conditions at the end of this year.
So with these steps and plans “the company is targeting a marketing gain of around Rp. 2.5 trillion with revenues of around Rp. 3 trillion and comprehensive profit at around Rp. 500 billion,” concluded Taufik.
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Tentang PT PP Properti Tbk :
PT PP Properti Tbk (stock code: PPRO) is a leading SOE 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 become a listing company on the Indonesia Stock Exchange since May 2015. In 2017, the Company made a stock split of 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 has developed around 49 projects including 33 Residential, 10 Commercial, and 6 Hospitality.
