Intiland will develop products for lower middle segment

06 November 2019 09:09

JAKARTA. PT Intiland Development Tbk (DILD) plans to develop property products for the lower middle segment, to deal with the sluggish property market.

Theresia Rustandy, Corporate Secretary of DILD, said that she was looking at the situation of land prices. The project can be in the form of apartments or residential areas, but for the lower middle segment. "If the price of land is already expensive, we have to wait, it cannot necessarily sell the lower middle product," Rustandy said as quoted by Kontan on Wednesday (6/11) today.

However, Rustandy was reluctant to say when this project would be realized. "Currently it is still in the planning stage," Rustandy said.

In the third quarter of this year, DILD's revenue fell by 23.4% to Rp1.9 trillion. While in the same period last 2018, the company's revenue was recorded at Rp 2.4 trillion. The company's net profit in the third quarter of this year also only reached Rp 6.5 billion. (KR/AR)

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