JAKARTA. PT PP Properti Tbk plans to launch two new malls in Surabaya to support the company's recurring income target for next year of 15%.
Indaryanto, Finance Director of PT PP Properti Tbk explained that the company's recurring income was contributed by the mall and corporate hotel segments. "The company's recurring income came from hotels and malls. So far, it is still very small, around 7%," he said when contacted by kontan.co.id, on Friday (22/2).
The company targets the company's recurring income contribution to reach 15% next year. At present, the company is building a 4-star hotel in Lombok. In addition, the company also plans to launch two new malls in Surabaya.
PPRO is known to currently have 5 hotels, ranging from 2 stars to 4 stars, spread across Bandung, Pekanbaru and Balikpapan, plus the new hotel in Lombok. The hotel occupancy rate is in the range of 70% -80%. The high occupancy rate, he said, was due to the location. "All of the areas we are looking for are strategic and we also have several institutions that often use our place," he said.
Last year's recurring income was Rp 200 billion. Expansion will continue to be made to make even greater contributions, said Indaryanto. (AM/AR)