Jakarta - PT Lippo Karawaci Tbk (“LPKR” or “Company”), Indonesia’s leading real estate and healthcare platform based on total revenue, reported marketing sales of Rp 1.28tn in 2Q22 and Rp 2.48tn in 1H22, contributing to 47.8% of FY22 target of Rp 5.2tn. LPKR achieved a 7% YoY increase in marketing sales in 1H22 as compared to 1H21 (Rp 2.48tn vs Rp 2.33tn).

2Q22 sales were driven by successful launches of landed residential projects for first-home owners – Cendana Icon, Cendana Marq, Cendana Nest, Cendana Clov’r and Cendana Gard’n in Karawaci, as well as Uptown Estate in Cikarang. These launches saw a take-up rate of over 95%. The first- home owners segment contributed 64.3% to total marketing sales in 1H22. The demand for completed legacy projects (pre-2019 launches) also picked up in 1H22, with total sales of Rp 132bn.

Management reaffirms FY22 guidance of Rp 5.2tn in marketing sales. Marketing sales for the second half of FY22 will be driven by 1) additional launches of landed residential products for first- home owners; 2) additional launches of luxury residential products and shophouse units; 3) new launches of mid-rise apartments to widen market penetration; and 4) sustained demand for high- rise inventory units.

In 2Q22, LPKR holdco sales were driven by several new launches in Cendana series at Lippo Village Karawaci totalling Rp 465bn, large land plot sales of Rp 304bn at 3 locations, and sales of existing high-rise inventory of Rp 49.5bn. Our wholly-owned burial grounds, San Diego Hills, reported sales of Rp 126bn in 1H22, or a 22% YoY decline compared to 1H21, in line with subsiding Covid-19 cases nationwide.

 

In Lippo Cikarang (JCI: LPCK.JK, 84% ownership), LPCK sold Uptown clusters at Waterfront Estates, Tanamera shophouses, and industrial land worth Rp 116 bn. LPCK’s 1H22 marketing sales of Rp 620bn were in line with last year’s performance.

By location, Lippo Village was the largest contributor to sales in 1H22 due to successful launches of landed residential clusters. Lippo Cikarang followed with strong demand for landed residential clusters and industrial land.

In 1H22, 71% of total marketing sales were financed through mortgages as the biggest components of sales were landed residential clusters in Lippo Village and Lippo Cikarang. Excluding non- residential sales, mortgage utilization for landed housing sales alone reached over 76%.

John Riady, the CEO of Lippo Karawaci stated, “We are pleased with the progress so far in 2022. We reaffirm our FY22 target of Rp 5.2tn, and remain committed to providing affordable and quality housing to meet the strong demand from first-home owners, even as we diversify our product offerings and price points.”

 

About Lippo Karawaci (“LPKR”) (www.lippokarawaci.co.id)

Listed on the Indonesia Stock Exchange, Lippo Karawaci (“LPKR”) is Indonesia’s leading real estate and healthcare platform, with a presence in 44 cities across Indonesia and total assets of US$3.6 billion at 31 December 2021. Our core business comprises urban residential developments, lifestyle malls and healthcare. We are also actively involved in integrated developments, hospitality, township development and management, as well as asset management services.

 

As a leading real estate developer and township operator with 1,332 ha of landbank ready for development, LPKR develops and manages urban developments primarily in Java and Sulawesi, including at our flagship township Lippo Village in Tangerang. Through LPKR’s two publicly listed subsidiaries, PT Lippo Cikarang Tbk and PT Gowa Makassar Tourism Development Tbk, of which we own 84.0% and 62.7% respectively, we also develop and manage the townships of Lippo Cikarang in Bekasi and Tanjung Bunga in Makassar.

In addition, LPKR owns 57.9% of PT Siloam International Hospitals Tbk, Indonesia’s leading private hospital network, with 41 hospitals in 30 cities nationwide. Aside from healthcare, we manage 59 malls across Indonesia, and hold a 47.0% stake in Lippo Malls Indonesia Retail Trust, a Singapore-listed REIT with S$1.81 billion of assets under management as of December 31, 2021. We also operate 10 hotels under the Aryaduta brand, including a country club and golf course.

 

For more information, please contact:

Investor Relations:

Dr. Randi Bayu Prathama
Head of Investor Relations

Randi.Prathama@lippokarawaci.co.id Mobile: +62811225873

 

Corporate Communications:

Nuke Prabandari

Head of Corporate Communications

 

Nuke.Prabandari@lippokarawaci.co.id Office: +622125569000