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Pikko Land brake expansion this year;

13 Juni 0201; Hits View, 4760

JAKARTA. Macroeconomic conditions are still slow in the first half of this year makes PT Pikko Land Development Tbk (RODA) is not a major expansion. This developer was forced to delay the expansion of the brand-new property projects throughout the year.

 

"We saw this year the market is still under-prepared so we postponed new projects in order to get a positive response," said Nio Yantony, President Pikko Land Development to KONTAN, Friday (12/6).

 

Some projects are delayed is an office building project in Central Jakarta, the tower apartment project in South Jakarta, and superblock in Kemayoran, North Jakarta. Last year, Pikko already planning to build an integrated property consisting of condominiums, office buildings, shopping centers dah five-star hotel. Pikko itself had land 26 hectares (ha) in Kemayoran and this integrated project could rencanay started last year and finished in 2021.

 

The other reason, Pikko awaiting licensing process because no design changes. You see, these developers want to target the premium market but do not want to hit a rule sales tax on luxury goods (Tax). As a result, Pikko will be a continuing focus on the completion of existing projects. As tall residential project Signature Park Grande.

 

Total investment for the construction project Signature Park Grande reached around Rp 2 trillion to Rp 3 trillion. In addition, Pikko will also continue the development of integrated projects in Bekasi District Thamrin.

 

Investment funds for the construction of the project is estimated to reach Rp 900 billion. This is a project in the form of apartments, condotel, malls and commercial areas. Lastly, is the apartment project Menteng 37 in Jakarta. The project is expected to spend the investment fund of Rp 800 billion to Rp 900 billion.

 

The three projects are already built Pikko since last year. According to the plan, the entire project could be finished next year. In order smoothly, Pikko Land already prepared a capital expenditure this year of around Rp 1 trillion to Rp 1.5 trillion.

 

The entire capital expenditure was intended for the construction of the three projects. But it could be, most of the capital expenditure will be used to buy land Pikko. "But until now we have no plans of land acquisition and land there is no target," said Nio.

 

With this plan, Pikko Land hopes to record sales of around Rp 1 trillion by the end of this year. The targeted profit target is Rp 250 billion. Last year, Pikko Land booked revenue of Rp 685.03 billion, up 7% of revenues in 2013 amounted to Rp 640.03 billion.

 

As for last year's profit reached Rp 426.07 billion, up 49% from the profit of 2013 amounting to Rp 285.9 billion. The result of a positive performance last year can not be separated from some of the projects that have been undertaken Pikko Land Development. As office project in collaboration with the Sahid Group Sahid Sudirman Center. There is more of Botanica apartment project and others, namely Sahid Sudirman Residence, Maple Park, and Signature Park.

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