Indonesia’s integrated real estate company, Lippo Karawaci reported marketing sales of IDR 2.33tn ($160.2mn) in 1H2021, an increase of 122% YoY. The company also saw a 193% increase YoY in marketing sales in 2Q2021 to IDR 1.02tn ($70.1mn) from IDR 348bn ($23.9mn) last year. The growth was driven by the sale of affordable landed houses which make up 70% of the total sales and the launch of two new products. The company is also eying projects in the premium market segment and commercial projects in 2Q2021. LPKR CEO John Riady said, “In 2021, our property business continues to show improvement, especially in terms of marketing sales… We are optimistic that the 2021 target of IDR 3.5 trillion ($240.7mn) will be achieved through the launch of new products.”
LMIRT’s 7.25% 2024s have risen ~1.5 points to 102 since the report. 6.75% 2026s and 8.125% 2025s issued by Theta Capital Pte Ltd were also up 1.3 and 0.8 points respectively to trade at 97.5 and 102.75 on the secondary markets.
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