Alam Sutera Realty
    Category: Best of the Best By : Ulisari Eslita Read : 2437 Date : Monday, July 08, 2013 - 01:09:59

    Courtesy of Alam Sutera Realty

    Property developer PT Alam Sutera Realty should be able to almost double its revenue from Rp 2.5 trillion last year to Rp 4.2 trillion this year, says President Director Tri Ramadi. The gains will come from strong demand for its various projects—the Prominence office tower in Serpong, townships in Alam Sutera Serpong and Pasar Kemis in Tangerang, and presales of its latest office tower in the Gatot Subroto area of Jakarta.

    In the first quarter, Alam Sutera booked Rp 1.3 trillion sales, reaching 25% of its full year target. “Last year, we acquired a landbank in Gatot Subroto, Pasar Kemis and Garuda Wisnu Kencana Cultural Park in Bali. Hopefully, these acquisitions will diversify our group and add to sales—we used to concentrate only in Serpong,” says Tri.

    Alam Sutera is best known for its township in Serpong, but it is rapidly evolving into a larger firm with a national presence. For now, though, Serpong remains a large focus on the company. Township sales in Serpong still account for 60% of Alam Sutera's sales, followed by the office space (20%), the Pasar Kemis township (18%).

    Alam Sutera's 700-hectare-township was started in 1994, next to Sinar Mas group's Bumi Serpong Damai. Initially, the Serpong area was hard to reach until the government completed the Jakarta-Merak toll road in 2009, allowing for an easier commute and fueled the area's fast growth. Currently the Alam Sutera development has 25 clusters, each of 150 to 300 houses, for a total of 4,500 houses and a population of 18,000, while the average selling price has risen from Rp 1 million per sqm in 2007 to Rp 12 million per sqm today.

    Despite all the development, Alam Sutera still has plenty of landbank in Serpong. It has 218 hectares at the current development, another 132 hectares in north Serpong and 150 hectares just acquired from PT Modernland Realty.