The three largest landed residential property companies has only reached less than 40% of its annual marketing sales target on June. However, they are confident that they will reach the target by end of this year due to the repatriation of funds and policies that eased the purchase of property.
These three companies are Bumi Serpong Damai Tbk (BSDE), Summarecon Agung Tbk (SMRA), and Pakuwon Jati Tbk (PWON). Each one has the turnover above 2 trillion IDR, but BSDE has the largest asset and equity, thus their market capitalization is the largest.
They are having a negative revenue growth this year, but Pakuwon was able to record a positive net income growth with the largest net profit margin and ROE. Meanwhile, Summarecon recorded the smallest net profit which is 130.85 billion IDR.
Meanwhile, even Alam Sutera Realty Tbk (ASRI) just reached 19.3% of its pre-sales target this year. Nevertheless, ASRI management is also confident that the year-end target will be achieved, especially due to the tax amnesty.
The repatriation funds are predicted to flow more in the property sector and the amount of funds will make the developers get their biggest benefits because of their broad product variants.
Add Comment