Greenwood focuses on development of mixed-use project in Surabaya

24 May 2019 15:01

JAKARTA - PT Greenwood Sejahtera Tbk (GWSA) is focusing on the development of a mixed-use project in Surabaya. The project is being developed on 1.4-hectare land and consists of three towers.

“One is a 28-story office tower, then there are also a 30-story apartment building and a 28-story loft. There is also a two-story plaza to support these three towers,” Greenwood Finance Director Bambang Dwi Yanto told IDNFinancials.com after a public expose at Batavia Tower, Central Jakarta on Friday (24/5).

Mr Yanto added that Greenwood targets to start the handover process of apartment units in the project by December 2010. For the development of the project, as of the first quarter of 2019 the company absorbed Rp 24 billion of its total budgeted capital expenditure (capex) for the year.

“In terms of budget, our [capex] estimation for 2019 is around Rp 120 billion,” said Mr Yanto.

Based on the company’s public expose sheet, in 2018 Greenwood recorded net profit of Rp 212.25 billion, higher than its 2017 net profit of Rp 190.40 billion. The company’s total sales and revenue also rose to Rp 134.41 billion from Rp 84.99 billion in 2017. (MS)

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