Leading Property Developer in Indonesia for 54 Years

September 21, 2023

Leading Property Developer in Indonesia for 54 Years 1

Agung Podomoro Land (APL) is a leading property development company that has been operating for more than 54 years. This company was founded by Anton Haliman in 1969 and is headquartered in Jakarta, Indonesia. Agung Podomoro has built various kinds of properties, including housing, apartments, as well as commercial properties such as shopping centers and offices.

Since its founding, Agung Podomoro Group has implemented property development projects such as Podomoro City Jakarta and its latest project is Parkland Podomoro Karawang. This leading property developer builds projects with high quality standards and always pays attention to buyers' needs.

About Agung Podomoro Property Developer

Agung Podomoro is a property developer that has 40 subsidiaries. And 13 entities with indirect ownership through subsidiaries, and 4 associated entities in the property sector spread throughout Indonesia. Armed with more than 50 years of experience as part of the Agung Podomoro Group, APL has a solid foundation to become a leading developer in working on the property market in Indonesia.

Agung Podomoro Land's long journey has shaped the company into a leading property developer that is strong and has successfully overcome various challenges, both global and local challenges in Indonesia. The challenges and crises faced so far have become a driving force for companies to continue to innovate and take appropriate strategic steps to answer every business challenge.

With experience and commitment that has been proven for more than half a century, Agung Podomoro Land continues to uphold its vision and mission to become a market leader and make a positive contribution to society and the national economy. Agung Podomoro Land continues to innovate and develop various property projects with superior quality and meet various community needs.

In the last 10 years, Agung Podomoro has completed more than 50 property projects, the majority of which are aimed at the middle class segment of society. The range of projects ranges from low-cost apartments to high-end apartments in South Jakarta, neighborhood malls and high-end, shophouses, office towers and hotels.

By having the motto to be part of the stakeholders' future and provide a harmonious lifestyle, Agung Podomoro Land is confident that it can continue to develop rapidly in Indonesia. Agung Podomoro believes that the combination of local knowledge and international standards will bring success in the future.

APLN Sales and Income Semester I 2023

In the period ending June 30 2023, PT Agung Podomoro Land Tbk ("stock code: APLN" or "Company") recorded company sales and operating revenues of Rp. 1.87 trillion, with a gross profit of Rp. 662.0 billion. In addition, the Company succeeded in reducing comprehensive losses to IDR 53.2 billion, which previously reached IDR 242.5 billion in the same period in 2022.

Justini Omas, as Corporate Secretary of PT Agung Podomoro Land Tbk, said that the performance in the first semester of 2023 reflects the positive results of various initiatives that have been carried out by the company to increase efficiency in all business processes. These steps were taken to ensure that Agung Podomoro's business foundation remains strong amidst the unstable economic situation and consumer purchasing power in the property sector.

In the January-June 2023 period, APLN recorded sales recognition of IDR 1.19 trillion, down from the same period in the previous year of IDR 1.55 trillion. Despite this, the company managed to record recurring revenue growth, reaching IDR 678.9 billion in semester I-2023 compared to IDR 652.6 billion in semester I-2022.

APLN's main source of recurring income comes from rental income from shopping centers amounting to IDR 278.7 billion and hotel business amounting to IDR 399.9 billion from a number of shopping centers owned by APLN. Some of them are Neo Soho, Emporium Pluit, Kuningan City, Baywalk, Deli Park Medan, Plaza Balikpapan and Festival CityLink Bandung. Apart from that, APLN also owns and operates several hotels, including Indigo Hotel Bali Seminyak, Ibis Styles Bandung Grand Central, Pullman Ciawi Vimala Hills and Pullman.

Justini explained that "Hotels owned and managed by APLN have experienced a significant increase. This is due to normal community activities, many holidays and celebrations of Eid al-Fitr during the second quarter of 2023. "Currently, APLN operates 8 hotels located in Jakarta, Bandung, Bogor and Bali."

Justini Omas said that "some of APLN's main hotels such as Pullman Bandung Grand Central and Pullman Ciawi Vimala Hills Bogor are often sold out. We are confident that this year's recurring income, especially from the hotel business, will experience a significant increase compared to previous years.”

Justini continued, as a company in the property sector, APLN will continue to develop a number of property projects in various cities in Indonesia. In this period, the company has also introduced a new property project, namely Parkland Podomoro in Karawang, West Java. Meanwhile, construction and handover of units in several property projects continues, including at Podomoro Hill Jakarta, Podomoro Tenjo City, Kertabumi City Karawang, Vimala Hills Bogor, Podomoro Park Bandung, Podomoro City Deli Medan and Podomoro Golf View Cimanggis.

Justini Omas explained that as a step to reduce risks related to the uncertainty of the global economic situation, in July 2023, the Company has bought back a portion of the senior notes worth USD300 million issued by its subsidiary APL Realty Holdings Pte. Ltd. Which will mature in June 2024. The total principal amount repurchased is USD168.04 million, equivalent to 56% of the total, at a price of 60% of the issue price, which is equivalent to USD100.82 million. After this payment is made on August 2, 2023, the remaining amount of senior notes is USD 131.96 million.

"We hope that by repurchasing some of these senior notes, the financial cost burden will continue to decrease, so that the company will have more funding sources to support the development of property projects in the future. The company will also continue to optimize every existing opportunity, so that "business growth can be maintained in a sustainable manner," said Justini.

Agung Podomoro Land's Latest Residential Project

Agung Podomoro Land continues to develop innovative and quality property projects. Currently, Agung Podomoro has developed the latest residential project. Such as Podomoro Park Bandung, Podomoro Tenjo City, Podomoro Hill Jakarta, Podomoro City Deli Medan, Podomoro Golf View and Parkland Podomoro Karawang.

Podomoro Park Bandung is a residential area located on Jl. Raya Bojongsoang, Bandung. This area stands on 130 hectares of land and offers various facilities such as gardens, swimming pools, children's play areas and jogging tracks.

Podomoro Tenjo City is an integrated housing complex located in Bogor Regency, West Java. Podomoro Tenjo City offers various types of houses with complete facilities such as gardens, swimming pools, gyms, and others.

Bukit Podomoro Jakarta is a housing project located in East Jakarta. This house area is equipped with various facilities. So that residents can fulfill their daily needs without having to leave the residential area.

Podomoro City Deli Medan is a 5.20 hectare superblock located in the commercial center of Medan, North Sumatra. This project consists of Premium Office Tower, Exclusive Apartment, Premium Apartment, Tribeca Condominium, DeliPark Shopping Mall. This project has the concept of integrated living One Stop Living.

Podomoro Golf View is a residential area integrated with green and commercial areas located next to the golf course. This makes the view presented very beautiful. Podomoro Golf View offers various facilities, such as a fitness center, jogging track, tennis court and function room.

Parkland Podomoro Karawang is the latest project from Agung Podomoro. Parkland Podomoro Karawang is also surrounded by various facilities such as schools, hospitals, shopping centers and entertainment venues. This makes it an ideal choice for those looking for a comfortable and peaceful living environment.

If you are interested in buying a residence from a leading property developer, you can choose the Agung Podomoro residence which is located in the various cities mentioned above. You can buy housing in the Agung Podomoro project which is located in Karawang, Bandung, Jakarta, Bogor, Depok Medan and other cities.