LPKR Sales Skyrocket by 86% in Q1 2021, Reaching IDR 1.31 Trillion

Jakarta – PT Lippo Karawaci Tbk (LPKR) recorded stellar performance in the first quarter of 2021, with sales surging 86% year-on-year (yoy) to IDR 1.31 trillion, compared to IDR 703 billion in Q1 2020. This strong growth was primarily driven by landed housing clusters targeting the middle-income segment, which contributed 63% of total sales.

“Over 50.6% of Q1 2021 marketing sales were achieved through the successful launch of our largest landed housing project, Cendana Icon in Lippo Village, marking the company’s highest single-day sales performance in over 20 years,” stated LPKR CFO Yudhistira Rusli in Jakarta on Thursday (8 April 2021).

Cendana Icon consists of 741 residential homes and 46 shop-houses, contributing IDR 664 billion in marketing sales to date. Yudhistira added that demand for ongoing high-rise projects also showed strong interest, with construction progress on the last two projects exceeding 95% completion.

LPKR expects Q2 2021 sales to further increase, supported by the launch of two new projects: the next Cendana cluster in Lippo Village and a new commercial cluster in Lippo Cikarang.

In addition to residential sales, commercial sales also grew significantly by 965% yoy to IDR 53 billion. Meanwhile, industrial sales rose 162% yoy to IDR 203 billion, in line with the easing of the COVID-19 pandemic and improved investment climate in the country.

Sales in the apartment segment jumped 248% yoy, driven by near-completion of all ongoing projects. As of Q1 2021, four of the six active projects had been completed, while the remaining two—Holland Village Jakarta and Embarcadero—were more than 95% complete.

In 2021, LPKR set a marketing sales target of IDR 3.5 trillion, with 60% of that expected to come from the parent company (LPKR). With Q1 sales achieving 37% of the full-year target, LPKR management is optimistic that around 60% of the target will be reached by the first half of the year.

Key drivers for sales through Q2 2021 and beyond include new landed homes in Lippo Village and Waterfront Estates, which target the affordable housing segment.

“We project that we can generate IDR 300 billion in sales from ongoing apartment projects, as all are expected to be completed by early Q2 2021. This is also supported by strong sales at San Diego Hills, totaling IDR 260 billion,” Yudhistira Rusli emphasized.

About Lippo Karawaci (“LPKR”)
www.lippokarawaci.co.id

Listed on the Indonesia Stock Exchange ("IDX"), Lippo Karawaci ("LPKR") is Indonesia’s leading integrated real estate company with total assets of USD 4.13 billion as of September 30, 2020. The company’s core businesses include urban housing development, lifestyle malls, and healthcare services. LPKR is also actively involved in integrated developments, hospitality, township development and management, as well as asset management services.

Present in 40 cities, the company is a leading property developer in Indonesia with a 1,411-hectare land bank ready for development. Through two IDX-listed subsidiaries, PT Lippo Cikarang Tbk and PT Gowa Makassar Tourism Development Tbk, where LPKR owns 84.0% and 62.7% respectively, LPKR develops and manages township projects in Lippo Cikarang (Bekasi) and Tanjung Bunga (Makassar).

Additionally, LPKR holds a 55.4% stake in PT Siloam International Hospitals Tbk, Indonesia’s leading private hospital network with 39 hospitals in 24 cities across the country.

LPKR also owns an interest in Lippo Malls Indonesia Retail Trust, a REIT listed on the Singapore Stock Exchange with managed assets totaling USD 1.1 billion as of September 30, 2020.

For further information, please contact:
Corporate Communications:
Danang Kemayan Jati
Vice President, Head of Corporate Communication
DanangJ@lippokarawaci.co.id
Office: +628557801299