Serpong Damai (BSDE) Still Has a Land Bank of 3,671 Hectares

June 11, 2024, 03.25 AM | Reporter: Venny Suryanto

ILUSTRASI. Workers walk on the roof of the Biomedical Campus BSD City building, Serpong, South Tangerang, Banten, Monday (25/3/2024). The Bumi Serpong Damai Integrated Area (BSD) is one of the National Strategic Projects (PSN) determined by the government and will be developed into a Special Economic Zone (KEK) which develops education, health research, digital economy, technology development, health and biomedical services. ANTARA PHOTOS /Muhammad Iqbal/tom.

PROPERTY MARKET - JAKARTA. PT Bumi Serpong Damai Tbk (BSDE) continues to hold a land bank of 3,671 hectares (ha) until the first quarter of 2024.

BSDE's Director, Hermawan Wijaya, explained that the management remains focused on the development of flagship property projects such as BSD City.

"With a land bank inventory of approximately 3,671 ha and a solid Asset position, it becomes the main capital for BSDE to grow sustainably and provide added value for shareholders until the end of the coming year," he said in a release quoted by KONTAN, Sunday (9/6).

BSDE recorded a business revenue growth of 31.25% to IDR 3.77 trillion, compared to the same period last year of IDR 2.88 trillion in January-March 2024.

Sales of land, buildings, and strata titles dominated BSDE's revenue by 88.98% or IDR 3.36 trillion in the first three months of 2024. This segment is the largest compared to other segments.

During the first three months of 2024, other business segments also recorded positive performance. The rental segment, for example, recorded good growth with revenue of IDR 234.66 billion or 6.22% of Consolidated Business Revenue.

Meanwhile, the building management segment contributed IDR 92.00 billion, equivalent to 2.44% of Consolidated Business Revenue in the same period.

"This performance is inseparable from the national promotion program of Sinar Mas Land since the beginning of the year and the government's decision to extend incentives in the property sector," he explained.

In terms of net profit, BSDE recorded a Current Period Profit Attributable to the Owners of the Parent Entity of IDR 1.44 trillion, up 62.55% compared to the same period last year of IDR 883.99 billion.