KIJA Maintains Rp 2 Trillion Marketing Sales Target

PT Jababeka Tbk (“KIJA”) maintains its Rp 2 trillion real estate marketing sales target for 2013 and its volume target at 40-50 hectares in Cikarang (industrial & residential) despite current economic conditions that prompted several other developers to reduce their targets by more than 30%.

Strong sales from KIJA’s residential and commercial sector (Jababeka Residence) in the remaining 4 months of 2013 would off-set any potential decline in industrial land sales. Jababeka Residence caters to residential and commercial needs in Kota Jababeka and offers landed housing, high rise developments, shop houses, shopping centers and commercial plots in strategic locations (near the golf course and future toll access at km 34.7) targeting medium and high-end market segments.

KIJA recorded Rp 1.24 trillion in real estate marketing sales in the first 8 months of 2012, 44% higher compared with the same period of 2012. The industrial sector accounts for approximately 70% (from Cikarang & Cilegon) whereas the residential and commercial segment accounts for 30%. KIJA’s recurring revenue (water, power, dry port, etc.) estimated at Rp 1.35 trillion in 2013 makes up approximately 50% of total consolidated revenue thereby creating a good balance between recurring and real estate businesses.