Tangerang Emerges as a Property Hotspot, LPKR Expands its Residential Portfolio at Park Serpong

Jakarta, August 4, 2025 — Indonesia’s residential property market, particularly in the greater Jakarta metropolitan area, demonstrated encouraging momentum throughout the first half of the year. Based on preliminary estimates by Cushman & Wakefield Indonesia, total market absorption is projected to reach approximately 4,000 housing units during the January–June 2025 period.

Amid these conditions, sales activity remains firmly concentrated in the middle-income segment. Arief N. Rahardjo, Director and Head of Strategic Consulting at Cushman & Wakefield Indonesia, noted that this segment continues to serve as the backbone of the property market, supported by a growing consumer base with increasing purchasing power.

From a locational perspective, Tangerang and South Tangerang are expected to remain the regions with the highest residential property sales. Infrastructure development has become a key driver behind this trend, including the continued expansion of toll road networks that enhance accessibility to and from the Tangerang Raya area.

In addition, toll road construction and upgrades have significantly reduced travel time and strengthened regional connectivity. Plans to extend the Mass Rapid Transit (MRT) system to Tangerang present further upside potential, as the availability of efficient mass public transportation is expected to substantially boost property values and improve residents’ quality of life.

Moreover, the progressive completion of supporting amenities—including newly opened shopping centers, educational institutions, healthcare facilities, and lifestyle hubs—continues to enhance the appeal of Tangerang and South Tangerang. As a result, supported by ongoing infrastructure and facility development, Tangerang Raya remains a strategic destination for homebuyers and property investors alike.

Capitalizing on these favorable conditions, PT Lippo Karawaci Tbk (LPKR), a leading real estate and healthcare services platform in Indonesia, is committed to expanding its residential portfolio across several strategic developments. One such focus area is Park Serpong in Tangerang, which offers a wide range of housing options catering to various market segments, from young families to premium buyers.

Group CEO of Lippo Indonesia, John Riady, stated that further expansion will also take place at the Lippo Cikarang Cosmopolis and Tanjung Bunga Makassar projects, as part of the Company’s commitment to strengthening its presence in Indonesia’s high-growth regions.

In the first quarter of this year, LPKR’s real estate segment revenue increased by 39% to IDR 1.74 trillion. This growth was driven by timely project handovers and the sale of land lots. Gross profit reached IDR 577 billion, while EBITDA stood at IDR 321 billion, translating into an EBITDA margin of 18%.

During the January–March 2025 period, LPKR recorded solid sales across a diversified property portfolio, comprising 18 landed residential projects, one low-rise residential project, one mid-rise project, four high-rise projects, and eight shophouse developments. Projects launched during the quarter included Park Serpong Phase 4 and the Blackslate Series in the Tanjung Bunga area.

LPKR’s presales value in the first quarter of 2025 reached IDR 1.26 trillion, representing 20% of its full-year target, with landed residential products contributing approximately 80% of total presales.

About PT Lippo Karawaci Tbk

Listed on the Indonesia Stock Exchange, PT Lippo Karawaci Tbk (“LPKR”) is a leading real estate and healthcare services platform in Indonesia, with a presence across 26 provinces and 56 cities nationwide and total assets of IDR 53.7 trillion as of December 31, 2024. The Company’s core businesses include real estate development, township management, healthcare services, lifestyle shopping malls, and hospitality.

As a leading real estate developer and township operator with 1,395 hectares of land ready for development, LPKR develops and manages urban developments primarily in Java and Sulawesi, including its flagship township, Lippo Village in Tangerang. Through two publicly listed subsidiaries—PT Lippo Cikarang Tbk and PT Gowa Makassar Tourism Development Tbk—of which the Company holds 83.99% and 62.69%, respectively—LPKR also develops and manages Lippo Cikarang in Bekasi and the Tanjung Bunga area in Makassar.

In addition, LPKR holds a 29.09% stake in PT Siloam International Hospitals Tbk, Indonesia’s leading private hospital network, operating 41 hospitals and 73 clinics across 23 provinces nationwide. Beyond healthcare, the Company manages 59 malls across Indonesia and holds a 47.29% interest in Lippo Malls Indonesia Retail Trust, a Singapore-listed REIT with assets under management of SGD 1.6 billion as of December 31, 2024. The Company also operates 10 hotels under the Aryaduta brand, as well as country clubs and golf courses.