JAKARTA. PT Metropolitan Land Tbk (MTLA) is preparing a capital expenditure (capez) of IDR 550 billion, most of which will be used for land acquisition.
Metropolitan Land Director Olivia Surodjo said that as much as IDR 205 billion of the capex will be used for land acquisition, while IDR 190 billion is for infrastructure development, and the rest is for the completion of new projects such as Hotel Kertajati and Royal Venya Ubud.
Olivia said the source of capex funds came from internal cash and bank loans.
This year, MTLA targets recurring income in the range of IDR 1.5 trillion to IDR 1.6 trillion, and property sales are targeted to increase by 40% - 50% (yoy).
Olivia further said that MTLA has prepared several agendas this year. MTLA will also continue the ongoing project and complete the Hotel Horison Kertajati project in the middle of next year so that it can be operational when Kertajati Airport is fully operational. (AM/LM)