JAKARTA - Yesterday (18/8), PT Perintis Triniti Properti Tbk (TRIN) signed an agreement with PT Sentul Golf Utama for land development cooperation "Palm Hill Golf Club".
This Cooperation Agreement (PKS) was made in order to prepare a cooperation plan for the development, construction and management of land covering an area of 76 hectares located in Kadumanggu Village, and Babakan Madang Village, Babakan Madang District, and Hambalang Village, Citeureup District, Bogor Regency, West Java Province. locally known as Palm Hill Golf Club Bogor, Sentul.
In addition, TRIN also plans to purchase land through its subsidiary PT Triniti Garam Properti covering an area of 19 Ha which is located adjacent to the 76 Ha land, so that the total land development of the Company in Sentul is 95 Ha.
The development cooperation period for an area of 76 ha will end when the property sales period ends until all residential and non-residential units are sold out or the sales period has exceeded 7 (seven) calendar years as of the date of the Land Handover which is expected to be held in 2023.
Meanwhile, the 19 ha land will be developed by the company through PT Triniti Garam Properti, which will own and develop the land exclusively.
According to information disclosure on the IDX website, the total Gross Development Value of the Project is estimated to reach IDR14 trillion with an estimated Net Profit Margin of 20%-24%. Through this collaboration, TRIN will increase its land bank that can be used for business development and is expected to generate a total profit of IDR 2.8 trillion over the 7-10 years of construction & development. (LM)