Jakarta (31/1) – PT Intiland Development Tbk (Intiland;DILD) recorded Rp3.37 trillion from marketing sales in 2017, an increase of 106.3 percent from 2016’s marketing sales.
Intiland’s Capital and Investment Management Director, Archied Noto Pradono said the income from the marketing sales was 46 percent higher than the company’s annual target of Rp2.3 trillion. The sharp increase is the fruit of the Company’s success with its project, Fifty Seven Promenade integrated complex in Jakarta in 3Q17, and the sales of plots of lands in Ngoro Industrial Park industrial estate.
“Both projects contributed significantly to the marketing sales. Fifty Seven Promenade contributed Rp1.54 trillion or 45.6 percent, while the sales of lands for industries at Ngoro Industrial Park contributed Rp531 billion or 15.8 percent. The total contribution from both projects was 61.4 percent of the total income from marketing sales,” Archied explained.
The mixed-use and high-rise development segment contributed Rp1.92 trillion or 57 percent to the total marketing sales. This shows a sharp increase, up to 225.5 percent from 2016 with Rp590 billion. The second biggest contributor was industrial segment with marketing sales of Rp531 billion or 15.8 percent. Compared to income in 2016, the sales from the industrial segment in 2017 jumped 555.7 percent.
Archied added the residential segment recorded marketing sales of Rp483 billion, 14.4 percent of the total income from marketing sales. The sales shows a decline of 25.4 percent from the income from marketing sales in 2016 with Rp648 billion.
The property investment segment, one of the Company’s sources of recurring income, contributed 432 billion by the end of 2017. This is an increase of 38 percent from the income in 2016 which reached only Rp313 billion. “The increase in the recurring income is a boon for the future business and business prospect,” he stated.
Based on the types, development income remains the biggest contributor to the marketing sales with Rp2.93 trillion or 87.2 percent of the total income. This shows an increase of 122.5 percent from 2016’s income of Rp1.32 trillion. The recurring income from rental of office and retail space, the management of golf course and sports clubs, warehousing, and facilities contributed Rp432 billion or 12.8 percent to the marketing sales.
Even though there hasn’t been a significant change in the property market, the Company is optimistic in 2018 the condition will improve. The Company is currently preparing the development of several new projects which will be introduced this year.