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This year PPRO Adds Landed House Products

JAKARTA, February 13, 2020 – Leading property developer in Indonesia, PT PP Properti Tbk (stock code: PPRO) will develop a number of landed house products to improve financial performance this year.

PPRO’s President Director, Taufik Hidayat explained, “we will add development to the landed house product because it is in line with current market interest. In addition, the construction of landed houses is relatively faster so that it can accelerate the Company’s cash in. This is in accordance with PSAK 72, where new revenue recognition will be recorded at the time of handover, “he said.

The landed house products to be launched are located in Rancasari-Bandung, Transyogi-Cibubur and Cengkareng-West Jakarta. These locations are considered strategic so that they will increase the interest of consumers. Meanwhile, the number of units offered for each project is around 536 units, 607 units, and 179 units which will be carried out in several phases.

The development of landed houses is targeted for the middle class market by offering an affordable price range of around Rp. 800 million by carrying out the millennial concept. Landed house locations offered are very close to public transportation modes and toll gates.

It is known at this time, PPRO has a total landbank of 300-310 hectares throughout Indonesia. Some of them will already be developed. With this amount of landbank, the Company believes that the project development can be carried out over the next 30 years.

Meanwhile, the Company’s revenue target this year touches around Rp 3.1 trillion with a net profit of Rp 346 billion. He believes this target can be achieved because it is supported by residential projects, as well as recurring income obtained from malls and hotels.

“We are confident that these landed house projects will be successfully sold entirely so that they will support the Company’s marketing sales target which is set to reach around Rp 3.8 trillion this year. Moreover, with the end of the political year, we expect property demand to increase again. Aside from landed houses, PPRO will continue to develop apartments that are currently running, “said Taufik.

The Company continues to innovate in every product and service it produces, including in digital terms, this is reflected in the award recently received by the Company on Wednesday at UOB Plaza, Thamrin Nine Ballroom, titled Indonesia Digital Innovation Award 2020: Embracing Culture Through Collaboration issued by Economic News. This appreciation is given to 73 companies that are able to produce the best innovations in digital-based products and services, so that they can survive and thrive amid fierce industry competition.

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About 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 conducted 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.

For further information, please contact:

Corporate Secretary
PT PP Properti Tbk.
Plaza PP Lantai 7
Jl. TB Simatupang No.57
Pasar Rebo, Jakarta 13760
Tel : 021 – 8779 2734
Fax : 021 – 8779 2947

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