LPKR Seizes Growth Opportunities in the Landed Housing Market

Jakarta, 19 September 2023 - 99 Group, the parent company of leading property marketplaces Rumah123.com and 99.co, reported in its research that landed houses continue to dominate property searches, accounting for 64.1% of total searches in the first half of 2023. This figure is five times higher than the demand for apartments (10.4%) and land plots (9%).

Maria Herawati Manik, Country Manager of 99 Group Indonesia, noted that property seekers are primarily interested in residential units priced between IDR 400 million and IDR 3 billion. “This data reflects a significant increase in interest from the middle to upper-middle market segments, particularly among younger generations aged 18–44. Many of them are newlyweds or starting families, which creates a natural demand for homeownership,” she explained.

The positive property market momentum in H1 2023 was also experienced by PT Lippo Karawaci Tbk. (LPKR), Indonesia’s leading real estate and healthcare platform. During the first half of 2023, LPKR recorded pre-sales of IDR 2.48 trillion, representing 50.6% of its full-year target. This achievement also reflects the solid fundamental performance of LPKR’s real estate segment.

Throughout the period, LPKR launched several new residential products that gained strong market response, including Cendana Gard’n Vista, Cendana Arbory, Newville SOHO (Alpha, Gamma, Zeta), The Colony @ Himalaya, Cendana Gard’n @ Britania, and Newville SOHO (Epsilon and Zeta blocks).

In terms of location, Lippo Village and Lippo Cikarang remained the top contributors, accounting for 41% and 25% of pre-sales respectively. In Lippo Village, the Cendana Homes series contributed 75% of H1/2023 pre-sales, including key projects such as Cendana Essence, Cendana Arbory, Cendana Botanic, and Cendana Gard’n Vista. Meanwhile, in Lippo Cikarang, pre-sales were driven by residential products such as Cendana Spark, Newville, and Waterfront Uptown Estate (64% contribution), followed by industrial product sales (30% contribution).

Looking ahead to the second half of 2023, LPKR plans to accelerate the launch of landed housing products across multiple market segments. John Riady, Group CEO of LPKR, stated, “LPKR remains committed to offering a broad range of new residential products tailored to evolving consumer needs, enabling us to capture demand and support sustainable business growth.”