JAKARTA. PT Pantai Indah Kapuk 2 Tbk (PANI), a property developer, now records landbank of 1,850 hectares after conducting a private placement.

Prior to this, PANI had conducted 2 rounds of private placement on August 20 and August 22-23, 2024. In its first round, it issued 787.43 million new shares, whereas the second round reported issuance of 469.01 million new shares.

From both corporate actions, PANI raised extra capital of IDR 6.53 trillion.

This fresh fund is then utilised to acquire more landbank, carried out by PANI’s subsidiary, PT Panorama Eka Tunggal (PET). The extra landbank purchased by PET is said to be an area of 232 hectares, located in Lemo Village and Kampung Besar, Tangerang, Banten.

“If we distribute it, on average, we spend a minimum amount, from which we can sell it as residential and commercial projects with higher margin,’ added Christy Grassela, Corporate Secretary of PANI, during Public Expose Live 2024 of PANI today (28/8).

It is worth mentioning that PANI is aiming to score marketing sales of IDR 5.5 trillion in 2024. Based on this target, PANI had managed to score 60% in the first half (H1) of 2024.

Until the end of this year, the management of PANI mentioned that there will be 14 new projects that will support this marketing sales target. They consist of 8 housing projects and 6 commercial ones. (KR/ZH)