JAKARTA – PT PP Properti Tbk (PPRO), a subsidiary of PT Pembangunan Perumahan (Persero) Tbk (PTPP), will divest several of its properties and land in various locations, aiming to gain fresh funds of IDR 5 trillion.
Deni Budiman, Financial Director of PP Properti, said that the assets sales would commence in the first quarter of 2022 with the Mutual Funds Team as the lead marketing. “PPRO follows the monetisation of property assets currently processed by PTPP through the Mutual Funds program,” he explained in the information disclosure quoted Friday (25/2).
The divested assets include 18 property assets in the form of apartments, landbank, and landed houses spread across eight areas in Jakarta, Tangerang, Bekasi, Semarang, and Surabaya. “The proceeds from this program would be allocated to the operational activities, payment of debt with its interest, and business expansion,” Budiman elaborated.
PPRO will acquire other productive assets after divesting these assets. They include investing in the real sector, finding new alternatives for investment, and focusing on existing investment. (LK/ZH)