JAKARTA - As of December 31, 2018, PT PP Properti Tbk (PPRO) has a landbank of around 300 hectares. One of PP Properti’s plan this year is to focus on developing the company's land bank.
"Our land bank until the end of last year was around 300 hectares. Our main focus is to develop the land bank we already have," said Taufik Hidayat, Managing Director of PPRO at the press conference.
PPRO also has plans to add a land bank with a cooperation scheme. For capital expenditure, the company has allocated funds of Rp 1.1 trillion to Rp 1.3 trillion from internal cash and the rest from bank loans.
At present PP Properti's recurring income portion is in the range of 8% -9% and it expected to increase to 9-12% this year. PPRO has several new projects this year located in Cibubur, Surabaya and Jogjakarta. (LM)