Lippo's reports good sales of apartment units

TANGERANG. PT Lippo Karawaci Tbk said it has succeeded in selling 70 percent of apartment units in two condominium towers now under construction in the Millenium Village, Karawaci Tangerang.

"Soon we will start sales promotion for the next towers with the enthusiasm shown by consumers in the Millenium Village," Lippo Homes Director, Jopy Rusli , said on Monday.

Each of the two towers has a capacity 250 units to be completed only in mid 2018, Jopy said.

He said 40 percent of the units are bought for investment and only 60 percent bought by would be dwellers.

The next condominium is to be ready for occupation in mid 2019 with 35 floors.

Associate Director of Lippo Homes, Anna Darmadji said the third tower would have 500 units.

The sales of the apartment units will add to the total sales of Lippo in the Millennium Village , now already reached Rp1 trillion.

Millennium Village occupies a 70 hectare plot of land in Lippo CBD which covers a total area of 132 hectares.

The masterpiece integrated development is estimated to be worth Rp200 trillion with development to take around 15 years.

Jopy Rusli said Millenium Village is a big project of Lippo adopting a different concept from other property project.

"Millenium Village also has good investment prospects. Many expatriates have units in the Millenium Village," he said.

Meanwhile property observer from the Indonesia Property Watch (IPW), Ali Tranghanda, said the western Jakarta area such as Karawaci, which is developed by the Lippo Group has different market segment than other areas.

The area of Lippo Karawaci is for middle to high class members of the community while the eastern Jakarta area is more for middle to lower class communities being close to industrial estates.

Classy people choose to buy houses or apartment units in Karawaci area rather than in eastern part of Jakarta which is more polluted with industrial waste, Ali said.