Transit Oriented Development (TOD), a keyword for the future of property business in Jabodetabek megapolitan. This concept is strongly believed by Urban Jakarta Propertindo, the TOD specialist developer company, will become the lifestyle of urban community in the coming years.
Despite its two years of operation, Urban Jakarta Propertindo (UJP) may be considered as one of the visionary developers boldly taking the opportunity when many other developers just take wait & see approach over the last few years. When the condition of property business is assessed by the observers as slowing down, UJP took a strategic step by acquiring PT Samsung Development, a subsidiary of Samsung Indonesia, in last 2016. “As an entity, Urban Jakarta Propertindo, formerly PT Samsung Development, which we took over then, including their land assets situated in Ciracas covering an area of 5 hectares,” Business Develompent Director & Corporate Secretary of Urban Jakarta, Tri Rachman Batara remarked, Thursday (22/11) in Jakarta.
Urban Signature (ujp.co.id)
“The acquisition is sort of a buried dream of our owner to develop property project with a new concept with investment potential in the future,” Tri continued.
Although it can be said that it is a bold action to work on a project when property slowdown is an issue, UJP has not only the passionate drive with idealist vision for the development project of urban lifestyle residential, they have thoroughly reckoned what kind of residential concept to be the choice of the consumers in the future.
“The concept of residence integrated with mass transportation such as TOD is the future of property industry. When the company was established, SOE Adhi Karya was in the stage of developing LRT mass transportation project, we see the opportunity to develop the residential project integrated with LRT.”
Further, UJP entered into a strategic partnership with PT Adhi Commuter Property (ACP), a subsidiary of PT Adhi Karya (Persero) Tbk to develop Urban Signature project in Ciracas. ACP alone a spin off from the Transit Oriented Development and Hotel Department of Adhi Karya. Urban Signature is compact vertical residential project putting forward the concept of mix-used development. Urban Signature has the concept of “Green Smart Living” directly integrated with Ciracas LRT station.
Property Inside, coffee lover & diving hobbyist man explained, this area development consists of 8 Apartment Towers, commercial area, green open space, convention, retention lake, family garden, pedestrian and jogging track, Ciracas Shuttle Bus Terminal, public outdoor activity space, and cycling track.
Gateway Park (ujp.co.id)
In addition, UJP also develops other 3 high-rise residential building projects raising the concept of residence directly integrated with LRT station. The first is Gateway Park, comprising 5 Apartment Towers 16 floor connected by 2 basement with commercial areas of 5-storey Station Mall.
This project is also developed jointly with Adhi Commuter Property under a KSO (Joint Operation).
Next are Urban Suites and Urban Sky projects, which are located at Cikunir Bekasi. Urban Sky comprising 2 Apartment Towers with 32 floors has been given the principal permits required such as Building Permit and pile test permit. This massive Business Development will continue to leverage the growth of company’s assets and the concept of residential integration with TOD which is offered by UJP as the attractiveness for the consumers and business partners of this domestic developer.
Urban Sky (ujp.co.id)
“We must have prepare strategic plans to maintain consumers trust and business partners. We are planning to release the shares into the public through initial public offering (IPO) with Indonesian Stock Exchange on 12 December 2018,” Tri said. In this corporate action, Urban Jakarta set a an offering price from IDR 1,000 per share up to IDR 1.250 per share. Hence, Urban Jakarta will receive fresh fund of IDR 600 billion up to IDR 750 billion at the initial listing. “The shares released to the public are about 28%. We are confident at price of offering IDR 1.000 up to 1,250 per share recalling the potential growth of our projects in the future. The prospective shareholders are agreeable that the residence concept offered has extraordinary potentials.”
“The concept of residence integrated with mass transportation such as TOD is the future of property industry.”
Tri Rachman Batara – Business Development Director & Corporate Secretary of Urban Jakarta
Tri also explained, in the future UJP will continue to increase its recurring income to maintain the stability of share price. This recurring income, according to Tri, will be maximized by UJP through management of retail property assets and leasing company such as malls or management of Co-working & Co-Living Space. “After the projects are completed in a few years, we will optimize asset management to increase the recurring income. We aim for recurring contribution up to 30% of total revenue,” Tri concluded.
Source: Property Inside