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Jakarta Post

Developers show sky-high growth in 2012

  • Mariel Grazella

    The Jakarta Post

Jakarta   /   Sat, March 30 2013   /  02:45 pm

Property developers have performed on a par with market forecasts predicting skyscraper growth.

Comparing recent financial reports of property developers, PT Agung Podomoro Land (APLN), whose projects include upmarket residential estate Green Bay Pluit, remains one of the strongest performers.

In 2012, APLN made Rp 4.7 trillion (US$484.1 million) in revenue and Rp 841.3 billion in comprehensive income. The figures represent a 22.6 percent and 22.8 percent year-on-year increase.

Another strong performer is PT Summarecon Agung (SMRA) with Rp 3.4 trillion in revenue and Rp 792 billion income: 46.8 percent and 103.7 percent annual rise respectively.

SMRA, the developer behind Summarecon Kelapa Gading township, Harris Hotel Kelapa Gading, and Gading Serpong housing complex, also posted a 52 percent climb in gross profit to Rp 1.6 trillion.

In terms of busin...