Dec 23, 2010

Bumi Serpong books Rp2.2 trillion sales

Marketing sales of property developer PT Bumi Serpong Damai Tbk (BSDE) exceeded its target of Rp2 trillion in mid-December 2010. Currently the sales figure of Bumi Serpong Damai (BSDE-coded stock) has reached Rp2.2 trillion
The biggest contributor to sales figure is still dominated by housing products that reached nearly 70% of total sales, the remaining of 30% came from commercial products. The main housing products of the company are sub-cluster housing such as Foresta, the Icon and de Park which was newly launched last month.
"The level of sales which exceeded the previous target was bolstered by strong sales of residential products. Properties in BSD City are very attractive to consumers since they have been developed as a whole. Moreover they are supported by facilities like in a big city. Infrastructure and road access that have been developed is the major feature in our project," said President Director of Bumi Serpong Damai Harry Budi Hartanto, yesterday.
To support the further development of BSD City, as he said, in 2011 the company has set aside development costs of Rp1.6 trillion to develop BSD City which is now entering the second stage development.
Currently, BSDE City has been facilitated with hospitals, universities, commercial areas and industrial areas just like the other major cities in Indonesia.
The first stage development of BSD City which covered 1,500 ha of the total area is still in progress. While BSD City has entered second stage development area of 2,000 ha targeted to complete in 2020. Next he company will begin to conduct the third stage development of 2,450 ha.
In yesterday’s closing session, the stock was unchanged at Rp880 per share and established market capitalization of Rp15.39 trillion.

Disclosure: No position at the stock mentioned above.

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