Summarecon Agung Reports IDR 4.9 Trillion in Pre-Sales Revenue for 2022

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- PT Summarecon Agung Tbk (SMRA), one of the leading property developers in Indonesia, has reported a pre-sales revenue of IDR 4.9 trillion for the year 2022. This realization is a decrease compared to the previous year.

According to the IDX 1st Session Closing Market on Friday, January 20, 2023, the realization has reached 98% of the company's target of IDR 5 trillion. In 2021, SMRA achieved a marketing sales of IDR 5.2 trillion.

The Secretary of Summarecon Agung, Jemmy Kusnadi, stated that the company's marketing sales was dominated by the sales of landed houses. He further explained that in 2021, about 75% of the marketing sales came from landed houses, while the remaining 25% came from the sales of commercial properties such as shophouses, apartments, and land plots.

For the year 2023, SMRA has set a conservative target. "For 2023, we are targeting a marketing sales of IDR 5 trillion from existing development sites," said Kusnadi. To achieve this target, the company has allocated a capital expenditure (capex) of IDR 700 billion for 2023, which is an 11% increase from the previous year's budget. Kusnadi explained that the capex will be used for land acquisition and property investment.

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