Metland Targets 11.5% Sales Growth This Year

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Thursday, 16 February 2012 16:22

Written by Hans GN

Metland, Targets 11.5% Sales Growth This Year

JAKARTA, Indonesia Today - Property developer PT Metropolitan Land (Metland) Tbk (MTLA) targets to book sales of Rp800 billion this year, increases 11.5% compared to Rp718 billion in 2011, Kontan.co.id reported.

Olivia Surodjo, Metland's director for corporate relation, said the company booked property sales of Rp537 billion last year and recurring income of Rp181 billion.

She said the company prepares capital expenditure (capex) of Rp1 trillion for achieving sales target this year.

Metland, Olivia said, will add commercial property Grand metropolitan and Bekasi Extension Horison Hotel while marketing office spaces and apartment within Grand Metropolitan superblock.

The company, through its subsidiary PT Metropolitan Permata Development, also plans to build budget hotels in some areas.

Olivia said Metropolitan Permata, in partnership with PT Wahana Arthadinamika and PT Dwi Kencana Motor, will set up unit named PT Metropolitan Permata Development.

The unit will build 3 budget hotels named @HOM located in Bandung, Cirebon and Tasikmalaya with investment costing Rp70 billion.

Olivia earlier said Metland plans to build 20 @HOM hotels in the next four or five years. The hotels, two-three stars, will be built in major cities like Jakarta, Bogor, Depok, Tangerang, Bekasi, Bandung, Medan, Yogyakarta, Semarang, Surabaya, Bali, Balikpapan, and Samarinda.

"Investment for one hotel is estimated at Rp25 billion," said Olivia. That would make total investment for 20 hotels at around Rp500 billion. Land acquisition cost per hotel could be around Rp40 billion, which will be funded from the company's annual capital expenditures. Due to difficulties in getting land in major cities, Metropolitan Land plans to work with the landowner in the development of new hotels. (hans@theindonesiatoday.com)

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