JAKARTA. PT Pantai Indah Kapuk Dua Tbk (PANI), a property developer owned by Agung Sedayu Group’s Sugianto Kusuma, is eyeing quite aggressive marketing sales target this year of 125% increase to IDR 5.4 trillion.

Last week, PANI announced that its marketing sales in 2023 had reached IDR 2.4 trillion. This number is 24% higher than the marketing sales of PANI in 2022, which only arrived at IDR 2 trillion.

Sugianto Kusuma, President Director of PANI, mentioned that this year’s marketing sales growth will be supported by several factors. They range from innovation and launching of products that will cater to the market’s demands, as well as capital increase and landbank acquisition.

“I continuously encourage brilliant innovations to create an optimum market in PIK 2 and well-sustained profitability without sacrificing consumer’s trust in us,” Kusuma stated.

According to IDNFinancials data, PANI owned undeveloped land worth IDR 12.54 trillion as of September 30, 2023. Meanwhile, the landbank under development was worth IDR 6.19 trillion, while the buildings under construction were worth IDR 795.4 billion.

Historically, PANI’s revenue consistently grew positively in the past three years. Even amidst the COVID-19 pandemic, its revenue further advanced by 56.7% year-on-year (yoy) in 2021 and 208% yoy in 2022. Until the third quarter of 2023, the company’s revenue even soared 85.7% yoy from the numbers recorded in 2022. (KR/ZH)