Feb 22, 2017 11:18:02

Bumi Serpong Damai to boost sales of commercial segment

Bumi Serpong Damai ($BSDE) increase revenue target of commercial segment by 71% through the launching of three apartment and office building projects including The Element in Rasuna Epicentrum area, South Jakarta, South Gate Tanjung Barat, South Jakarta as well as an mixed used project that consists of office building an AEON Mall. The company targets pre-sales of commercial projects could contribute around IDR2.85trn of total pre-sales target amounted to IDR7.22trn for 2017. Furthermore, the company allocates capex of IDR3trn -IDR4trn in 2017 that would be used to fund the projects. The company expects its recurring income to grow by 20%-25% in the next five years. (Kontan, Bisnis Indonesia)