Target Profit Up, Continues Expanding Metropolitan Land

PT Metropolitan Land Corporation (MTLA) is optimistic that this year will receive a net profit of more than 2011 ago. This was stated by President of the Metropolitan Land, Nanda Widya, yesterday.

“If a year ago, we had a net profit of Rp150 billion, meaning that this year more than that,” he said. “It refers to the first-half profit this year has reached Rp80, 7 billion, while at the same period of 2011 ‘only’ 63 billion.”

On the other hand, added Nanda, marketing sales until the end of June 2012 reached Rp383 billion. The biggest contributor came from residential projects, which amounted to Rp287 billion. The largest contribution contributed by Metland Menteng (28%), Metland Cullinan (21%), and Metland Tambun (20%).

Metland Puri
MTLA is preparing a new housing project at Puri numbers. Observing location, Nanda said it would build a residential high.

Project that stands on an area of 60 hectares will have five clusters, where each cluster has about 130 housing units. “Selling price above Rp 1 billion per unit,” said Nanda.

According to Nanda, Metland Castle will begin running in 2013. Its construction is aligned with the construction of expressway exit Puri at a cost of Rp250 billion. Construction of this expressway exit involves a consortium of three parties, namely the Metropolitan Land (with a contribution of 26%), who built the Great Sedayu Green Lake City (about 60%), and the rest of Bina Sarana Blooms (BSM).

Grand Metropolitan
In addition, the MTLA also developing a mixed-use projects in the area of West Jakarta, the Grand Metropolitan, which consists of strata title offices and apartments. Project that stands on an area of 4120 square meters will be connected with the Metropolitan Mall Bekasi opposite. “When combined with the Metropolitan Mall, area of land about 30 acres,” said Nanda.

Projects to be launched in September 2012 is expected to be completed in 2014. Construction of Grand Metropolitan estimated construction cost of about Rp198 billion. “The funds obtained from the IPO, presales, and internal cash,” said Nanda.

Nanda said, this office building will be the first in Calcutta. “Bekasi shortage of office space, so many companies operating in Jakarta, office in Jakarta. If they are based in jakarta, we contribute to reducing congestion Jakarta, “he concluded.

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