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PRESS RELEASE
Jakarta, 21 Januari 2025, PT Ingria Pratama Capitalindo Tbk (GRIA) As of December 2024, GRIA successfully built 956 housing units, marking a 53.2% year-on-year (YoY) increase. These housing developments are spread across Kalimantan and West Java, contributing 58.8% and 41.22%, respectively. By the end of 2024, GRIA also recorded a stock of 748 ready-to-occupy housing units, reflecting a 110.7% YoY growth. These ready-to-occupy units are located in Kalimantan and West Java, with contributions of 47.3% and 52.7%, respectively. During the same period, GRIA sold 330 housing units, an increase of 30.4% YoY, with sales contributions from Kalimantan and West Java amounting to 70.6% and 29.4%, respectively.
During the Public Expose event, GRIA's President Director, H.K. Hakim Noor, stated that the company’s operational performance shows a sustainable positive trend amid the favorable property sentiment in the country. "GRIA has managed to maintain sustainable operational growth until the end of 2024. Furthermore, GRIA's performance in 2024 has met the operational targets we had set for the year. We firmly believe that owning a home is a fundamental right of every citizen. Therefore, GRIA continues to strive in developing beneficial and livable housing for all communities," Hakim explained.
"To sustain this strong performance in 2024, moving forward, GRIA will not only focus on providing homes for Low-Income Communities (MBR) but will also start targeting the middle-to-upper income segments. The quality improvements include access to clean water, free internet installation for the first three months, termite-proofing, and the provision of green open spaces. With these quality enhancements, GRIA is able to offer both subsidized and non-subsidized housing that aligns with community needs, supporting the government's program to address the housing backlog," Hakim elaborated.
"We are also increasingly optimistic about government policies supporting the housing industry, such as the target of 3 million new homes per year, an increase in the Housing Finance Liquidity Facility (FLPP) quota to 320,000 units, equivalent to a government budget of IDR 28.2 trillion, and fiscal incentives in the form of government-covered taxes (DTP) effective this year. Additionally, the declining interest rates provide a breath of fresh air for the public, making it easier to access Mortgage Loans (KPR) with lower interest rates. Furthermore, Low-Income Communities (MBR) will benefit from tax relief with the elimination of the Land and Building Acquisition Duty (BPHTB) and the exemption of the Building Approval (PBG) processing fee," Hakim detailed.
On the same occasion, GRIA's Director, Hugo Feber Parluhutan Silalahi, also expressed the company's optimism in achieving future targets by enhancing housing infrastructure facilities, such as water treatment installations, termite-proofing, integration with public transportation, and independent waste management. "We have already implemented water quality improvements in the Gria Mahakam City project by installing a water treatment system to fulfill the basic need for clean water for our customers."
"With this corporate strategy, we have high hopes that GRIA will achieve a revenue target of IDR 120.8 billion and a net profit of IDR 7.1 billion in 2025. Of course, these financial performance targets will be achieved through the planned construction of 693 housing units and the sale of 642 units this year," Hugo concluded.
For further information:
Public Relations PT Ingria Pratama Capitalindo (“Ingria”)
Email: cosec@ingriagroup.com
