PT Kota Satu Properti Tbk (SATU) and PT Bumi Sekartama are collaborating to develop a housing project in Kota Weleri. The signing of the agreement between the two parties was carried out on Thursday, October 2, 2021 which took place at the Sphere Meeting Room, Allstay Hotel Semarang.
President Director of PT Kota Satu Properti Tbk (SATU), Johan P. Santoso revealed that this collaboration with PT Bumi Sekartama is part of the company’s strategy to support the development of the property business for the next 3 to 5 years.
“Through collaboration with landowners and capital, SATU can develop various property projects by leveraging its management capabilities and experience in the field. This is what SATU is currently focusing on, which is to take advantage of every opportunity and every available resource to grow. This collaboration with PT Bumi Sekartama is one of our steps to ensure SATU’s growth in the future” said Johan P. Santoso.
Johan added, currently many capital and land owners are interested in developing property projects because they know the prospects are very large, but they do not have a capable and experienced management team. Not a few big investors fail when they go into the property business.
“Property projects, despite their excellent business potential, must be admittedly very complex. Starting from market research, planning, licensing, development, marketing & branding, social and security aspects, vendor management, estate management and customer service. SATU have a management team that is experienced in developing property projects of various scales, so we handle project development and land/capital owners can sit back and focus on their main business” he said.
The signing of the cooperation agreement was carried out and attended by the President Director of PT Kota Satu Properti Tbk (SATU) Johan P. Santoso, Commissioner of PT Bumi Sekartama R.Y. Kristian Hardianto, President Commissioner of PT Kota Satu Properti Tbk Arief Sugiyo, Director of Operations (COO) of PT Kota Satu Properti Tbk Jeannie Rahardja, Director of Finance (CFO) of PT Kota Satu Properti Tbk Hanna Priscilla.
Bumi Sekartama housing consists of 236 housing units and shop houses of various types, with a total potential value of the project is estimated at 118 billion rupiah and is targeted to be sold within 3 years. The first phase of sales is estimated at 32 billion rupiah and is targeted to be completed in 18 months. This target is very realistic considering that various property and economic analysts have indicated that 2022 will be a revival year for the property industry.
In addition, the project location is still affordable from the 2200 Ha Kendal Industrial Estate which is a joint project between PT Jababeka and Sembcorp Singapore (Temasek Group) and the Batang Industrial Estate (Grand Batang City) covering an area of 4300 Ha. Various large-scale infrastructure developments such as the Batang PLTU, seaports, and the Trans Java Toll Road have also added to the optimism of achieving the target.
PT Kota Satu Properti Tbk (SATU) is a property company that has been listed on the Indonesia Stock Exchange and has proven successful in developing the Amaya Home Resort Ungaran housing estate into a popular and popular upper middle class housing in Semarang. Where of the units marketed, more than 90% have been sold. SATU has also owned and developed two hotel units, namely Allstay Hotel Semarang and Allstay Ecotel Yogyakarta, which have also become tourist favorites. This is evidenced by the high rating and various awards from online travel agent sites such as Traveloka, Tiket.com, Booking.com, Pegipegi, etc.