Agung Podomoro Targets Marketing Sales of IDR 800 Billion from the 3 New Clusters

PROPERTY MARKET - JAKARTA. PT Agung Podomoro Land Tbk (APLN) has set a marketing sales target of Rp 800 billion for the Podomoro Tenjo City project in 2024.

During the Fantastic Millennial Home event at Central Park, Zaldy Wihardja, Chief Marketing Officer of Podomoro Tenjo City, told Kontan that they aim to achieve marketing sales of Rp 50 billion from the week-long exhibition.

"From this week-long exhibition, we aim to sell 100 housing units or about Rp50 billion," he explained in Jakarta on Tuesday (23/4).

Furthermore, Zaldy reported that the sale of housing units in Podomoro Tenjo City continues to perform well.

First launched during the Covid 2019 pandemic, they have now sold as many as 6,000 housing units. The Podomoro Tenjo City project has also developed 150 hectares of land out of a total of 650 hectares owned.

This time, Podomoro Tenjo City is launching three new cluster types with prices ranging from Rp 270 million to Rp 550 million. These three clusters consist of two types of deluxe houses, referred to as Millennial houses, starting from Rp 270 million with installments of Rp 1.8 million per month and a 20-year mortgage.

The second type is a premium house starting from Rp 500 million. This premium house is located near a large Transit Oriented Development (TOD) area.

"The difference between the deluxe and premium types lies in their infrastructure. The deluxe houses still have above-ground electricity, while the premium type is already underground," he added.

The third type launched is a shop house starting from Rp500 million. This shophouse style adopts a classic American design and is located in the densest area. Zaldy stated that there will be around 5,000 to 8,000 housing units surrounding these shophouses.

Furthermore, Zaldy explained why they specifically aim to sell houses to Millennials. He said that Millennials make up about 24% of the population, but 40% of them still do not own a house.

"We are not limiting our products to Millennials only, but we are targeting the young and productive generation. Millennials are on average 30 years old, so they already have a salary and can afford a mortgage. Generation Z is also included, as at the age of 21 or 22 they have their first salary and can afford a monthly installment of Rp 1.8 million," he elaborated.

Regarding the extension of the Value Added Tax (VAT) incentive borne by the government (DTP), Zaldy admitted that they currently only have a stock of 50 housing units. They sold many housing units before the incentive was implemented, and Agung Podomoro usually builds houses after they are confirmed to be sold.

"At Podomoro, we only build houses that are confirmed to be sold. The stock of 50 housing units we have now is the result of cancellations or unit transfers. And these are leftovers from the sale of houses in the initial clusters like Kalamenta, Kana, Kenanga, Kaliandra, and there are also premium ones like Angsana, Burgundy, and Citrus," he explained.

Zaldy is optimistic that they can sell the remaining stock of 50 housing units. He added that despite the weakening of the rupiah against the dollar and the ongoing war in the Middle East, the property business will continue to operate and grow.

He noted that so far, he has not felt any significant effects from these two factors. According to him, currently, in Indonesia, 60% to 70% of the market is dominated by domestic consumption.

"So far, these conditions have not had an impact on prices either, but we will still continue to release promotions so that people do not focus on the war. So far there has been no negative impact, everything is still safe and good," he concluded.