The property sector is expected to grow by up to 10% throughout 2024. Chairman of the Central Executive Board of the Association of Indonesian Real Estate Companies (DPP REI) Joko Suranto said that the average sales growth in the property sector is 0.5% -0.75% every month, driven by the implementation of tax incentives. value added is borne by the government (VAT DTP).
Deputy General Chairperson of the REI DPP Ikang Fawzi also said that REI had seen several factors that might move property in 2024 which needed to be welcomed with optimism. One of them is the fairly good national political and macroeconomic conditions. Apart from that, the number of housing needs in Indonesia continues to increase from year to year. It is known that up to now the backlog that needs to be completed in Indonesia has reached 12.7 million units.
PT Lippo Karawaci Tbk. (LPKR), Indonesia’s leading real estate and healthcare platform, seeks to capture these property growth opportunities. In 2024, LPKR has set a pre-sales (marketing sales) target of IDR 5.37 trillion. This number is an increase of 10% compared to the 2023 target. Last year, LPKR posted pre-sales of IDR 5.12 trillion, up 7% on an annual basis (year-on-year/YoY) or 5% above the target set in the previous year, namely IDR 4 .9 trillion.
LPKR Group CEO John Riady said that to achieve the 2024 target, the company will rely on new residential and commercial products in Lippo Village and Lippo Cikarang, as well as in other areas which are the company’s reserve land. Regarding the 2023 pre-sales achievements, John stated that the realization that exceeded the target reflected the high demand for the company’s landed house and commercial products which were offered at affordable prices.
According to him, the launch of Park Serpong including the XYZ Livin series has opened up new demand opportunities for LPKR. Therefore, the company believes Park Serpong will play an important role in driving the company’s performance in the future. (RO/R-2)
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