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NEW UPDATES Asean Affairs   24 February  2015  

BSD to invest Rp 7t for tower, residential projects in 2015

Major real estate developer Bumi Serpong Damai (BSD) has readied up to Rp 7 trillion (US$544.5 million) for investment in four new projects expected to enter the market this year.

BSD director and corporate secretary Hermawan Wijaya said the company planned to work on mixed-use and high-rise buildings in Jakarta and Kalimantan.

“We want to start marketing the projects in the second half of this year,” he told reporters recently.

The projects are the mixed-use Aerium development at Taman Permata Buana in West Jakarta worth Rp 2 trillion in investment, the Elemen Rasuna apartments worth Rp 2 trillion and a mixed-use building worth Rp 3 trillion in Tanjung Barat, South Jakarta, as well as residential project Grand City Samarinda in East Kalimantan.

The four new projects are expected to help the company meet its marketing sales target of Rp 7.5 trillion, up by around 15 percent from Rp 6.5 trillion recorded in 2014.

The projects are predicted to contribute around 20 percent to the marketing sales target by year-end.

Hermawan explained that most of the investment needed for those projects would come from the company’s previous marketing sales, while the remainder would be financed by bank loans.

“We still have a standby loan amounting to Rp 150 billion from Bank Mandiri,” he added.

Hermawan said that BSD, which develops the country’s largest residential area in Tangerang, Banten, projected that it could book an around 10 to 15 percent increase in its financial performance this year.

“We are optimistic that we can boost revenue to between Rp 5.5 trillion and Rp 5.7 trillion in 2014, with net profits expected to hit around Rp 3.9 trillion,” he said.

The figure means the developer can maintain its revenue at the same level as 2013 despite slowdown in the property industry last year, and see its net profit up by around 34 percent from Rp 2.9 trillion in the previous year.

BSD saw its marketing sales last year exceed its initial target of Rp 6 trillion.

Last year’s marketing sales increased by 15 percent increase from the 2013 figure, excluding joint sales from its strategic partnerships.

The developer’s flagship township was still the main contributor to the company’s marketing sales last year, constituting around 75 percent of the total figure, BSD’s official statement read.

Grand Wisata Bekasi in West Java was the second biggest contributor with 6 percent, followed by Grand City Balikpapan in East Kalimantan with 5 percent.

Residential sales made up around 48 percent of the 2014 marketing sales, followed by sales of land plots with 31 percent.

Sales of land plots booked the highest growth last year, rising sevenfold to Rp 2.02 trillion from Rp 282.27 billion.

Another segment that booked significant growth was shophouse sales, rising by 12 percent to Rp 769.29 billion.

BSD, part of Sinar Mas Land, is the country’s largest developer, with market capitalization amounting to Rp 38 trillion.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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