Sales of Agung Podomoro Soar Due to Low Interest Mortgage Support
PT Agung Podomoro Land Tbk (APLN), a leading property developer, reported a marketing sales (pre-sales) achievement of Rp980 billion for the January to July 2024 period. This figure represents a significant increase of around 40% compared to the same period last year, which recorded Rp682 billion.
APLN's Corporate Secretary, Justini Omas, attributed the substantial rise in marketing sales to the company's strategic initiatives and its ability to understand market needs. One key measure was the introduction of accessible mortgage (KPR) schemes for the purchase of various property types developed by the company.
"Amidst the decline in purchasing power for some consumers, mortgage financing has become a viable solution for customers to acquire the properties they need. Competitive mortgage interest rates have been a crucial factor in driving APLN's property sales growth," Justini stated in an official press release in Jakarta on Monday (2/9/2024).
Justini further elaborated that property purchases through mortgages benefit both consumers and the company. Mortgage options provide an accessible and affordable payment method for customers, while also assisting the company in accelerating the development of its ongoing projects.
Currently, APLN is developing several property projects, including Bukit Podomoro Jakarta, Podomoro Golf View, Podomoro Park Bandung, Parkland Podomoro Karawang, and Borneo Bay Residences in Balikpapan, near the future capital of Nusantara.
In the first half of 2024, APLN successfully recorded a comprehensive profit of Rp62.2 billion, a remarkable turnaround from the Rp53.2 billion loss incurred in the same period of 2023. The company's sales and operating revenues also increased to Rp1.89 trillion as of June 2024, compared to Rp1.87 trillion at the end of June 2023.
In addition to optimizing its business strategy, APLN has also undertaken comprehensive operational efficiency measures. These efforts have resulted in a 10% increase in the company's gross profit, reaching Rp729.8 billion in the first half of 2024.
"This reflects our commitment to strengthening sales growth and ensuring sustainable profitability amidst the prevailing economic challenges," Justini concluded.
