Indonesia’s economy boom has had a
positive impact upon the property sector, with numerous property developers assigning
considerable funds towards capital expenditure (capex), used to expand
business, develop new projects or to procure land.
One of the country’s major real estate developers, PT Bumi Serpong Damai Tbk, has this year assigned Rp3trillion (US$25.6billion), towards capex for finance infrastructure development and land acquisition projects.
Additionally, the developer also intends to develop property projects in Serpong, Tangerang plus other areas. The funds are also planned to be used as working capital.
By 19th June, PT Bumi Serpong Damai Tbk recorded Rp28.017trillion market capitalisation. They are currently working on a number of projects, such as the AEON shopping mall and Saveria Apartment in Serpong, the Grand City housing estate in Balikpapan in East Kalimantan and Indonesia International Expo and Convention Center (IIEC).
