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Jakarta Post

PP’s subsidiaries expect property sales to pick up after elections

  • Riska Rahman

    The Jakarta Post

PREMIUM
JAKARTA   /   Fri, April 12, 2019   /  04:18 pm
The Jakarta Post Image
Klapa Village low cost apartment project in Duren Sawit, East Jakarta(kompas.com/Dani Prabowo)

The subsidiaries of state-owned construction firm PT Pembangunan Perumahan (PP), publicly listed property firm PT PP Properti and construction services provider PT PP Presisi are upbeat that they will meet their sales targets this year as the property market is expected to recover after the presidential and legislative elections in April. PP Properti director Indaryanto said property sales were expected to pick up after the elections following a slump last year. He believed sales would increase as the people who had waited for some time to buy houses or apartments would enter the market after the elections.   He said many people thought the elections would run smoothly and provide an opportunity for property sales to grow again. The company’s revenue decreased 5.64 percent year-on-year to Rp 2.56 trillion (US$180.76 million) last year because of sluggish apartment sal...