“CENDANA HOMES SERIES” – LIPPO’S INNOVATION FOR THE MILLENNIAL MARKET
Jakarta, December 27, 2021 — Knight Frank Indonesia, a leading independent real estate consultancy, conducted the "Property Outlook 2022" survey to understand general perspectives on the property sector’s performance in 2022. The survey summarized market projections from industry players across Indonesia. Out of 63 respondents, 54% expressed optimism that the property sector will rebound and grow positively, with landed houses remaining the most preferred property type.
In response to this trend, PT Lippo Karawaci Tbk. (LPKR) is preparing to launch its newest product, Cendana Homes Series, in Q1/2022. LPKR has consistently proven its ability to anticipate market trends and has become a pioneer in offering affordable landed homes tailored to millennial tastes.
John Riady, CEO of LPKR, stated, “LPKR continues to innovate in developing flagship products. We’ve collaborated with renowned designer Alex Bayu to create affordable homes. These homes may be compact, but they maximize space utilization and prioritize functionality—for instance, ensuring cross-ventilation in every room. We’ve also adapted to the new way of living, incorporating work-from-home elements and more.”
John further explained that society is now accustomed to hybrid activities, both online and offline. Based on this shift, LPKR has designed homes that include small office spaces, making them more relevant to modern living.
LPKR’s innovation in delivering affordable housing that meets market demands is evident from the successful launches of the Cendana Homes Series. Since July 2020, eight Cendana Homes projects have been launched, each selling out in an average of just 3–4 hours:
Cendana Spring
Cendana View
Cendana Place
Cendana Hills
Cendana Peak
Cendana Icon
Cendana Parc & Parc North
Cendana Cove
This sales success has been driven in part by the increasing per capita income among millennials in their productive years, supported by favorable mortgage terms offered by banks, such as low interest rates. “We are now seeing a trend where millennials are choosing property as an investment instrument. They view property as a functional asset,” John added.
