JAKARTA – PT Bumi Serpong Damai Tbk (BSDE), the developer of the integrated BSD City area, reported the sale of an 8,516 m² land lot to an indirect subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA).

According to the disclosure, BSDE and PT Kuningan Mas Gemilang (KMG), a DSSA subsidiary, signed the deed of sale for the land lot on 28 May 2025.

The land is located in Menteng Atas, Setiabudi, South Jakarta. The transaction was agreed at a value of IDR 617.41 billion.

It is worth noting that this transaction is categorised as an affiliated transaction, as both BSDE and DSSA are under the Sinarmas Group, owned by the Widjaja family.

“The company and DSS, through KMG, are affiliated parties due to familial ties between ultimate beneficial owners, making this an Affiliated Transaction,” explained Hermawan Wijaya, Director of BSDE, in the statement.

Hermawan further stated that the transaction provides a return on investment from the land sale, and is expected to improve BSDE’s liquidity for its operational activities. (ZH)