PT Kawasan Industri Jababeka Tbk : Jababeka Targets Rp 4 Trillion Cash Balance from Property Sales of Rp 2 Trillion in 2024

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Jababeka Targets Rp 4 Trillion Cash Balance from Property Sales of Rp 2 Trillion in 2024 JAKARTA, July 30, 2024 - PT Jababeka Tbk (KIJA) has set a target to increase sales from land development & property of at least IDR 2 trillion in 2024, which will support the bond repurchase plan worth USD 180 million, with the aim of achieving a cash balance of IDR 4 trillion. PT Jababeka Tbk is an industrial estate issuer with mature land stocks in various strategic locations, including the Jababeka Area in Cikarang, the Kendal Special Economic Zone (SEZ), Tanjung Lesung SEZ, and Morotai SEZ. Project progress in various regions The founder and President Director of PT Jababeka Tbk, Setyono Djuandi (SD) Darmono, stated that to achieve the property sales target of at least Rp 2 trillion in 2024, Jababeka will rely on the sale of mature land in the company's four independent cities. In the Jababeka Cikarang area, sales will be supported by expansion in the health and tourism sectors, such as Jababeka Medical City and Jababeka Movieland covering an area of 100 ha. These two projects are ready to accommodate foreign investors with infrastructure that has been built for 20 years. "In the Jababeka Industrial Estate, we will open phase nine covering an area of 500 ha specifically for investors from China. Currently, 20 hectares have been sold to nine investors," said SD Darmono on the 25th floor, Batavia Tower, Central Jakarta, Tuesday (30/7/2024). Jababeka also noted success in attracting investment from three Japanese companies (Mitsui Fudosan Asia, Keihan Group, and Creed Group) for residential projects, such as Kawana apartments, Wimbledon Cluster, Ibuki Cluster, and Paradiso Golf Villas. Residential and commercial sales continue to increase from January to June 2024, with the contribution of 60% from residential products, 37% from commercial or shophouses, and 3% from apartments. In addition, revenue is also expected from the sale of mature land in the Kendal Industrial Estate which currently has 103 tenants from foreign investment and local industrial expansion. Development of Tanjung Lesung SEZ and Morotai SEZ In the Tanjung Lesung SEZ, Jababeka is exploring cooperation with investors for the construction of mixed-used marina projects, theme parks, senior living, and universities. This project is expected to take advantage of the completion of the Serang-Panimbang toll road by the end of 2024. President University's Tanjung Lesung Campus will also begin its lecture activities in September 2024, increasing the need for student accommodation to be accommodated in Ladda Bay Village. Investment from Jababeka's subsidiaries will be encouraged to support the development of the Tanjung Lesung SEZ. In the Morotai SEZ, Jababeka targets investment from subsidiaries for the development of fisheries and tourism industry infrastructure, including cold storage, ports, hotels, and golf courses. Investment also comes from Taiwan for the construction of resorts and retirement homes, Japan with Solar Power Plants (PLTS), and China for the development of the fishing and shipping industries. Jababeka Strategy Jababeka's strategy is to always create demand by building the infrastructure needed by foreign and domestic investors. Jababeka's decision was driven by the spirit of accelerating project development and business expansion. Jababeka's finances are in good health, with many parties offering funding to the company. "This decision was taken to support the development of existing independent city projects," said SD Darmono. Jababeka Targets Rp 4 Trillion Cash Balance from Property Sales of Rp 2 Trillion in 2024 Tagged on: jababeka Jababeka Group Jababeka Industrial Estate KIJA PT. Jababeka. Tbk

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