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SSIA will rely on Subang City Industry project in 2020

16 January 2020 09:26

JAKARTA. PT Surya Semesta Internusa Tbk (SSIA) will rely on the Subang City Industry project to improve its performance this year.

The project is built on an area of 2 thousand hectares, and will be marketed in the middle of this year. Even after the completion of this project, SSIA will still have 1,100 hectares of land as of June 2019.

Ilham Akbar Muhammad, an analyst at Samuel Sekuritas, said the opening of new land in Subang would be a positive catalyst for SSIA's performance. This is supported by infrastructure projects that are being built in Subang.

"The development of the Subang City Industry area can attract investors with the phase I of Patimban Port, with a capacity of 3.5 million TEUs," Muhammad explained in his research.

In addition, land prices in the region are still relatively cheap at around US$ 100 per square meter. This is cheaper than land prices in the Karawang and Cikarang regions, which are in the range of US$ 170 per square meter. (KR/AR)

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