05 December 2016

Metland Held Public Expose 2016

Property developer PT Metropolitan Land Tbk (MTLA) held a Public Expose to explain the company performance up to third quarter of 2016 in Jakarta (5/12).

In third quarter of 2016, MTLA recorded profit of IDR 169 billion, up 6.2% from the same period last year which amounted to IDR 159 billion. The increase in profit was triggered by the increase in recurring income from hotel and mall and another factor which was the government policy regarding the changes in the calculation of final income tax from 5% to 2.5%. MTLA’s total revenue up to third quarter of 2016 was IDR 756 billion, a slight 2% increase compared to third quarter of 2015 which was IDR 750 billion. “We are seeing a flat growth for performance up to third quarter compared to the same period last year due to the increase in sales which was only up since August 2016 so it is not yet reflected in the third quarter financial statements,” said Olivia Surodjo, Director of Finance of PT Metropolitan Land Tbk during Public Expose in Jakarta (5/12).

After relying on the sales from residential projects that target middle and middle low class during the first half of the year, this time Metland increased sales in middle and middle up projects such as Metland Menteng and Metland Transyogi which seen increase of 61% and 51% in marketing sales compared to the same period last year. “We are seeing an increase in the property sector in which the tax amnesty program imposed by the government was one of the driving factors along with the relaxation of policies in the property sector such as LTV and the decrease in mortgage interest rate,” said Thomas. “Even though we haven’t seen a significant impact, we see property to be one of the choices for investors to put their fund,” he added.

Up to third quarter of 2016, Metland has completed the construction of Metropolitan Mall Clieungsi, a shopping center in the residential area of Metland Transyogi which began operations on 5 May 2016. On 8 August 2016, Metland through its subsidiary, PT Fajarputera Dinasti, begin the construction of Telaga Murni Station. The new station will liven up properties in surrounding area, including Metland Cibitung that is currently being developed and meanwhile the sales activities in Metland Cyber City has started in line with the improvement of people’s purchasing power.

Metland project development plan for 2017 which has been included in the agenda are the construction of Kaliana Apartment in the commercial area Urban City Metland Transyogi, Condotel in Bandar Lampung, Metropolitan Mall Cibitung, apartment in Metland Tambun as well as starting the mixed-use project in Metland Cyber City.