JAKARTA. Publicly listed real estate developer PT Intiland Development (DILD) will consecutively construct apartments located in commercial centers for the upper middle class, which will have a taste for contemporary living in 2013.Budiman Kurniawan, Intiland project general manager, said that the developer fetched around Rp 584 billion (US$60.83 million) from the sale of all 379 units in three apartment towers at 1Park Residences located in Gandaria, South Jakarta. “We booked net profits between 20-30 percent of the amount of sales we fetched,” he added.He further said that the last sale price for the units was Rp 19 million per square meter, or 72 percent higher than the beginning sale price. “And we now plan to enter the second phase of our project by constructing 1Park Avenue,” he said.He added that the developer would start construction of the new project, located right next to 1Park Residence, in the first quarter of 2013. The new project would consist of four apartment towers with at least 300 units as well as approximately 30 townhouses. “1Park Avenue will sit on land measuring 2.4 hectares, twice larger than that of 1Park Residences,” he said.He further said that to differentiate the properties, the new project would boast a design concept with strong elements of water, unlike the “green residence” concept adopted by the former.He added that the developer would source the Rp 1 trillion investment needed for the new project from payments made by buyers, internal cash and bank loans.“We expect to retrieve Rp 1.3 trillion from sales,” he said, adding that the developer would set the apartment unit price at around Rp 20 million per square meter, which is higher than 1Park Residences’ price per square meter.Besides apartments in Jakarta, the developer also owns elevated housing properties in Surabaya, such as the Graha Famili Condominium and Sumatra 36, both in Surabaya, East Java.Through their activities, the developer accumulated Rp 852.3 billion in revenue during the first nine months, earning 34.8 percent more than in the same period last year. During the same period this year, the developer spent Rp 474.2 billion for development and direct expenses, in addition to Rp 128.4 billion for operating expenses.Theresia Rustandi, Intiland corporate secretary, added that the developer was engaged in at least three other projects involving apartments, including South Quarter in TB Simatupang, South Jakarta, and Aeropolis Residences in Cengkareng, West Jakarta.According to her, these two projects, which the developer would complete in two years, will have a mixed-use concept, which combines offices, apartments and retail complexes in a single area. (Mariel Grazella/ The Jakarta Post)
Intiland to build second Gandaria apartment
JAKARTA. Publicly listed real estate developer PT Intiland Development (DILD) will consecutively construct apartments located in commercial centers for the upper middle class, which will have a taste for contemporary living in 2013.Budiman Kurniawan, Intiland project general manager, said that the developer fetched around Rp 584 billion (US$60.83 million) from the sale of all 379 units in three apartment towers at 1Park Residences located in Gandaria, South Jakarta. “We booked net profits between 20-30 percent of the amount of sales we fetched,” he added.He further said that the last sale price for the units was Rp 19 million per square meter, or 72 percent higher than the beginning sale price. “And we now plan to enter the second phase of our project by constructing 1Park Avenue,” he said.He added that the developer would start construction of the new project, located right next to 1Park Residence, in the first quarter of 2013. The new project would consist of four apartment towers with at least 300 units as well as approximately 30 townhouses. “1Park Avenue will sit on land measuring 2.4 hectares, twice larger than that of 1Park Residences,” he said.He further said that to differentiate the properties, the new project would boast a design concept with strong elements of water, unlike the “green residence” concept adopted by the former.He added that the developer would source the Rp 1 trillion investment needed for the new project from payments made by buyers, internal cash and bank loans.“We expect to retrieve Rp 1.3 trillion from sales,” he said, adding that the developer would set the apartment unit price at around Rp 20 million per square meter, which is higher than 1Park Residences’ price per square meter.Besides apartments in Jakarta, the developer also owns elevated housing properties in Surabaya, such as the Graha Famili Condominium and Sumatra 36, both in Surabaya, East Java.Through their activities, the developer accumulated Rp 852.3 billion in revenue during the first nine months, earning 34.8 percent more than in the same period last year. During the same period this year, the developer spent Rp 474.2 billion for development and direct expenses, in addition to Rp 128.4 billion for operating expenses.Theresia Rustandi, Intiland corporate secretary, added that the developer was engaged in at least three other projects involving apartments, including South Quarter in TB Simatupang, South Jakarta, and Aeropolis Residences in Cengkareng, West Jakarta.According to her, these two projects, which the developer would complete in two years, will have a mixed-use concept, which combines offices, apartments and retail complexes in a single area. (Mariel Grazella/ The Jakarta Post)