LPKR SEIZES PROPERTY OPPORTUNITIES IN TANGERANG THROUGH CENDANA HOMES SERIES

Jakarta, June 29, 2022 — The property market in the Greater Jakarta (Jabodetabek) area is projected to continue growing, driven by the rapid pace of urbanization—particularly in Tangerang City. According to data from the Rumah.com Indonesia Property Market Index Q4/2021, Banten recorded the highest property price increase (3.07%), outpacing West Java (2.3%) and Jakarta (1.8%).

In Banten Province, Tangerang City posted the most significant year-on-year price growth at 17.04%, alongside a 39.93% annual increase in housing supply. Additionally, Tangerang has become a popular residential choice for the middle-income segment.

Recognizing the growth potential in Tangerang’s mid-market property sector, PT Lippo Karawaci Tbk (LPKR)—known for developing the integrated township of Lippo Village—has been actively launching affordable landed homes since 2020 under the Cendana Homes Series, starting from just IDR 700 million.

LPKR has introduced several clusters within the Cendana Homes Series, including Cendana Parc, Cendana Peak, Cendana Spring, Cendana Hills, Cendana View, Cendana Place, and Cendana Icon. These modern and eco-friendly clusters are surrounded by comprehensive facilities within Lippo Village. Residents benefit from strategic access to various destinations such as the Jakarta–Merak toll road, Hypermart, Supermal Karawaci, Pelita Harapan University, and Siloam Hospitals Karawaci—all reachable in under 10 minutes.

LPKR’s success in tapping into the growing mid-market property demand in Tangerang is evidenced by the strong sales performance of the Cendana Homes clusters, which have become key contributors to LPKR’s 2022 pre-sales target of IDR 5.2 trillion.

LPKR CEO John Riady stated that during every Cendana Homes unit selection event, all available units are consistently sold out in a very short time.

“Lippo’s home designs have been very well-received by consumers. At each unit selection event, the offerings are sold out within just a few hours. This success stems from our strategic approach, including consumer research to ensure our products align with market preferences and needs,” he said.