Urban Jakarta Target Profit of IDR 183 Billion – Market TOD Project

Urban Jakarta Target Profit of IDR 183 Billion – Market TOD Project

  • April 9, 2019
  • in News

Starting to market units in the transit oriented development (TOD) Project e.g. Sky, Urban Suites, Urban Signature and Gateway Park, is a strong belief for PT Urban Jakarta Propertindo Tbk (URBN) that the current year financial performance will improve better than the last year. There is no doubt, the property company targets net profit of IDR183 billion in 2019 or rise 295% from the 2018 of IDR46,22 billion.

Tri Rachman Batara, Director of Urban Jakarta expressed, to achieve the said target profit, the company target revenue of IDR900 billion. The value of revenue in 2018 of IDR332,64 billion rose 9 multiple times from the position of IDR36,6 billion from 2018. To this date, the company has collected marketing sales of IDR150 billion from Urban Sky at Cikunir.

In addition, the company also expressed, the construction process of Urban Suites is projected to complete in 2023. Gateway Park in Bekasi is projected to complete in 2021, Urban Signature and Urban Sky are projected to complete in 2022.”We will have three new projects and there is a change we will involve investors experienced in TOD,” he said in Jakarta, yesterday.

As for information, besides our own projects, there are two KSO Projects with PT Adhi Commuter Properti covering a total 12 hectares with 12 lots. Each lot will be constructed with two towers with capacity about 1.600 units. Therefore, there will be potentials to generate revenue in the coming years. “Now, we start one by one, so there will be a total of 40.000 units to be marketed,” he said.

Company offers price per unit for its own apartment below IDR 500 million for 22 square meters studio type. It is expected that the price will attract more buyers from millennial segments aged from 27 to 37 years as the main market segment of URBN. Tri added, company will continue implement strategic steps to achieve sustainable growth with TOD concept. According to him, TOD development concept will have major contribution to the growth of property industry.

In this year, URBN allocates capital expenditure in the amount of IDR800 billion for the development of the existing projects and also down payment for the purchase of commercial areas covering an area of 36.000 m2 worth IDR600 billion. The area will become a multi-year project and a potential for recurring income after the completion in 2022-2023.

Source : https://neraca.co.id/article/115341/pasarkan-proyek-tod-urban-jakarta-bidik-laba-rp-183-miliar

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