JAKARTA - PT Bukit Uluwatu Villa Tbk (BUVA) is acquiring 50% of the portion of PT Vasanta Indo Properti in PT Bukit Savana Raya (BSR) for IDR 112.27 billion. Such value is reported below the market price as of July 2023 of IDR 117.37 billion.

In the information disclosure quoted Monday (5/1), Rian Fachmi Tobing, Corporate Secretary of BUVA, mentioned that this acquisition will increase the landbank that will be developed by the company. “Not long after, the company is projected to gain additional revenue by conducting hotel businesses managed by BSR,” he added.

According to Tobing, the company’s revenue is projected to gain extra IDR 148.51 billion in 2025 following the acquisition of VIP’s portion in BS. The market capitalisation of the company will also increase when this hotel, managed by BSR, fully operates in 2025.

As is known, BSR is currently initiating a hotel project in Labuan Bajo, East Nusa Tenggara (NTT), with a concept of high-end experiential luxury, on a land plot of 2.74 hectares. This project is estimated for completion in the third quarter of 2024. This hotel will consist of 99 units of deluxe rooms, 18 units of junior suites, 8 units of executive suites, and 1 unit of presidential suite.

BSR’s total assets were recorded IDR 655.85 billion, or equal to 33.77% of BUVA’s total assets of IDR 1.94 trillion as of July 31, 2023. (LK/ZH)