Intiland eyes IDR150 billion from new house sales at Graha Famili

SURABAYA: PT Intiland Development Tbk this year targets to bag sales income amounting to IDR150 billion from one of its residential complexes at the Graha Famili Surabaya.Marketing Manager of PT Intiland Grande Harto Laksono said that the housing sales at Graha Famili complex until the end of June has reached IDR90 billion. Meanwhile, last year, sales at Graha Famili was recorded at IDR160 billion.Intiland Grande is a subsidiary of Intiland Development with 100% ownership."The sales target of Graha Famili declined this year, as the available land bank at Graha Famili has reduced," he said yesterday.Of the total 280 hectare land at the residential complex, the available land bank is only 55 hectares, of which 35 hectare of the land bank will be turned into a residential complex and 20 hectare will become commercial area.Graha Famili, yang dikembangkan sejak 1993 dan berdiri di atas lahan 280 hektare, merupakan kontributor terbesar ketiga bagi pendapatan konsolidasi Intiland Development yang pada kuartal I/2011 mencapai Rp307 miliar.Graha Famili, which has been developed since 1993 and stands on an area of 280 hectares, is the third largest contributor to consolidated revenues of Intiland Development in the IQ/2011 which was IDR307 billion.Sumbangan pendapatan dari Graha Famili mencapai Rp30 miliar ke pendapatan konsolidasi Intiland Development.Graha Familis contribution to the consolidated revenue was IDR30 billion.The biggest revenue contributor is Ngoro Industrial Park 2 in East Java with IDR170 billion, followed by 1 Park Residence project and Telaga Bestari in Jakarta, each amounting to IDR32 billion and IDR24 billion.Intiland Development in 1Q/2011 booked 11% growth in revenue compared to IDR278 billion in the 1Q/2010. Intilands operating income declined 12% to IDR103 billion from IDR117 billion.Net income rose 3% to IDR88 billion from IDR85 billion.Meanwhile, in the fourth quarter of this year, the company will open another cluster at Graha Famili, namely Astrella Place which contains 50 units. Astrella Place is built on an 8-hectare area."One unit in the Astrella cluster requires investment of IDR1 billion, bringing the total investment to IDR50 billion," Harto said.According to Harto, Astrella Place offers four housing types, which will be priced at minimum IDR2.5 billion per unit.Intiland Grade also has 25 other residential clusters at Graha Famili. Intiland Grande is also developing landed apartment at the same location, namely The Platinum.Of 28 units at The Platinum, which took up an investment value of IDR50 billion, 80% has been sold. (T03/NOM)