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Internal News Clippings

With English translation

March 01, 2024

Tropical Homes Are Millennials' Choice

JAKARTA, KOMPAS - House designs in tropical areas such as Indonesia not only considers climate,
but also citizens' habits. The habits that have been formed can be implemented in building a house.
One of the habits that exist in Indonesian society is outdoor activities. Apart from that, the house is
also expected to fulfill the needs so that the family members inside can interact freely.

"In fact, we are outdoor people, many activities are carried out outside the home with high social
interaction. Just look, our spirit of mutual cooperation is also high," said architect Yori Antar at the
launch of the Agra Suvarna Sutera Cluster in Tangerang, Banten, Tuesday (27/2/2024). These habits
and needs can be accommodated in a modern house with open spaces. This space without partitions
allows families to interact intimately. The family room is connected to the dining room and kitchen
so the family can talk to each other other.

Windows with wide openings to let in light and high ceilings also make houses exposed to sunlight
in tropical areas cooler. "Why is there a terrace in a tropical house? Its function is also to cool the
hot air," said Yori.

He observed that the housing built by the Dutch, such as in Menteng, Central Jakarta, did not follow
the spatial layout of four-season countries, but had been adapted to the climate. The house is built
with a large room, garden and terrace surrounding the house, not only for beauty, but also to reduce
heat and cross ventilation with high ceilings and various openings.

Modern housing
These habits and adjustments can be applied to modern housing and are popular with young people
who are starting to look for a home to live in. With that concept, Yori designed the Agra Cluster
from Suvarna Sutera. This cluster has a tropical concept in accordance with the Indonesian climate.
The market share is the millennial generation.
"The layout is also multifunctional and can accommodate the various needs of its residents," said
Henny Meyliana, Marketing & Sales Director of Suvarna Sutera. Agra is the first cluster of the Cemara
supercluster with a land area of 1.9 hectares and a development value of IDR 765 billion. The size
of the houses in this cluster starts from 105 square meters to the corner type with an area of around
165 square meters.
According to a survey presented by Henny, the millennial age group most wants a landed house
with an area ranging from 60-100 square meters (38.6 percent) and 100-150 square meters (27
percent). Meanwhile, in terms of price range, millennials are interested in houses with a price range
of IDR 400 million-IDR 1 billion per unit (32.2 percent) and IDR 1 billion-IDR 3 billion per unit (35.7
percent). The Agra cluster is offered starting from IDR 1.3 billion for the initial price.
Chairman of the Indonesian Real Estate Brokers Association (Arembi) Banten Vemby on the same
occasion said that the growth of residential houses in the western area of Jakarta is growing very
rapidly. The increase occurred especially after access increased, such as new toll roads. He said that
private property sales in Banten reached IDR 10 trillion to IDR 15 trillion in the last year.
Research results from Cusman & Wakefield Indonesia show that the supply of landed houses in the
Jabodetabek area this year is estimated to increase steadily by around 2.6 percent on an annual
basis. Cumulative demand is projected to increase by around 2.8 percent annually in 2024.
Not only supply and demand, house selling prices in the Jabodetabek area are also projected to
increase. Factors include inflation which affects the cost of building materials, infrastructure
developments in Jabodetabek, such as the MRT, LRT and toll roads, causing land prices and house
selling prices to rise. (JOE)
MTLA Aims for Marketing Sales 2024 Rp. 1.9 T

JAKARTA. The property developer issuer, PT Metropolitan Land Tbk (MTLA) is targeting a
marketing sales figure of IDR 1.9 trillion in 2024. This target is in line with the development
of a number of residential projects that MTLA has prepared for release this year.

MTLA Director, Olivia Surodjo said, the marketing sales target this year grew 5.5% compared
to the marketing sales target in 2023 which was worth IDR 1.8 trillion.

MTLA itself has prepared two residential projects, namely Metland Cikarang and Metland
Kertajati. "Metland Cikarang will launch in the middle of this year, after we previously
carried out pre-launch sales at the end of last year," said Olivia, to KONTAN last week.

Metland Cikarang is a residential project that will pass through the Cikarang-Balaraja
Integrated Transportation Route (MRT). Therefore, MTLA is optimistic that this project will
have many interested people.

Apart from that, the existence of Government Borne Value Added Tax (VAT DTP) incentives
will stimulate MTLA sales. This incentive is expected to spur a sales increase of 20%-25%.
As marketing sales targets increase, MTLA management is also targeting net profit growth
in 2024.
JRPT Earns Profit of Rp 1.02 Trillion

JAKARTA. A fresh breeze is blowing towards property issuers. This can at least be seen from
the performance of the DKI Jakarta Regional Owned Enterprise (BUMD), namely PT Jaya
Real Property Tbk.

This issuer with the code JRPT recorded a net profit of IDR 1.02 trillion in 2023. This
realization increased by 16.69% from 2022 which amounted to IDR 879.77 billion.

According to information disclosure on the Indonesian Stock Exchange (BEI), Thursday

(29/2), these results were in line with growth on the income side. Last year, this developer
pocketed revenues of IDR 2.5 trillion. The realization increased by 10.83% from 2022 which
amounted to IDR 2.25 trillion.

The increase in income was contributed by the sale of land plots and building units worth
IDR 1.91 trillion. The growth is around 8.32% annually.

At the same time, JRPT's cost of goods sold will increase by 8.52% to IDR 1.04 trillion in
2023. Previously, last year Jaya Real Property's cost of goods sold was IDR 959.31 billion.
JRPT also recorded total assets of IDR 13.2 trillion, up 7.80%.
ASRI Subsidiary Invests IDR 765 Billion
JAKARTA. PT Alam Sutera Realty Tbk (ASRI) continues to increase its residential project
portfolio. Most recently, through its subsidiary PT Delta Mega Persada, ASRI launched a new
housing cluster called Agra which is in the Suvarna Sutera area in Tangerang, Banten.

"Agra is the first cluster in the Cemar Supercluster. This project is being developed on an
area of 9.1 hectares (ha) with a development value of IDR 765 billion," said Henny Meyliana,
Marketing and Sales Director of Suvarna Sutera, Tuesday, (27/2).

This new cluster has a total of 432 residential units, with a first phase sales target of 313
units. ASRI targets that 50% of the units provided can be sold as soon as possible.
"So overall (the target) is around 50% sold. However, Suvarna Sutera's target is IDR 800
billion for Alam Sutera. So, this is our contribution to Alam Sutera," he said.

He added, 75% of buyers from the Suvarna Sutera cluster are end user buyers which makes
a fairly high contribution to the company's growth.
"Talking about our target as of today, around 75% of buyers are end users. This is what is
accelerating growth for Suvarna Sutera," he said.

However property buyers in the Agra cluster apparently does not can enjoy tax incentives
value added is incurred government (VAT DTP). chapter, most likely received this residence
has been missed the deadline PPN DTP property determined by the government. "For VAT
DTP, the handover from the government must be in December 2024. So, specifically for the
Agra cluster, we can't participate, but our other products already exist. In Suvarna Sutera
itself there are houses that cost from IDR 700 million to IDR 3 billion, that can be included
in (VAT DTP)," he said.

Even though he cannot enjoy the VAT DTP incentives, he is optimistic that the Agra Cluster
will be of great interest to many consumers. Targeting consumers in the millennial
generation and generation Z segments, the Agra Cluster has the appearance of a modern,
minimalist house with a multifunctional concept that can accommodate various needs
residents.
"The millennial generation also likes residences with touches of natural colors which are
equipped with various smart home features, such as solar water heaters, smart door locks,
CCTV and fiber optic networks," he explained.
Property Developers Boost Commercial Projects
JAKARTA. The post-pandemic economic boom has driven up demand for commercial
property. A number of property developer issuers are also diligent in developing the
commercial segment in order to leverage their performance.

One of them is PT Bumi Serpong Damai Tbk (BSDE). The developer of the BSD City area sees
that the sales prospects for the commercial segment are still promising. Based on marketing
sales results in 2023, the commercial segment recorded a positive achievement of IDR 2.62
trillion by the end of 2023. Meanwhile, in 2024, BSDE has set a sales target for the
commercial segment of IDR 2 trillion.

Hermawan Wijaya, Director of PT Bumi Serpong Damai Tbk, explained that marketing sales
for the commercial segment in 2023 is the biggest achievement with a contribution of 28%
to total pre-sales which amounted to IDR 8.8 trillion.
"In general, we see hat property market opportunities to continue growing, incl
consumer interest in space the business will still be there," he said Hermawan to KONTAN,
Wednesday (28/2).

BSDE targets marketing sales commercial segment achieved IDR 2 trillion.

Because the prospects are still promising, BSDE is aggressively developing the commercial
segment. Recently BSDE launched the commercial product West Village Business Park in
BSD City.
This commercial product offers business opportunities with a unique, modern and of course
comfortable concept for people potential buyers.
"This commercial cluster will be a strategic place for entrepreneurs to support their business
growth. We are optimistic that the sale of West Village Business Park can be well absorbed
by the market, with the prices we offer starting from IDR 2.7 billion," he said.
Throughout 2024, BSDE is also preparing plans to launch other commercial products,
including shophouses. This shophouse development is carried out both in existing projects
and new projects. The focus development locations are in the Jabodetabek and Balikpapan
areas.

Another property developer issuer, PT Metropolitan Land Tbk (MTLA), is also optimistic that
demand for commercial property will continue to increase in 2024.
MTLA Director, Olivia Surodjo said, sales of commercial projects, including shophouses
throughout 2023 in several project locations were observed to be quite positive. These
include the sale of Amethyst Shophouse and Grand Boulevard Shophouse in Metland Puri
which will be sold out at the end of 2023. "Demand in the comercial is still continuing to
grow this year," he said, Tuesday (27/2). MTLA itself still has many shophouses in several
property locations that they are developing.