INDONESIA PRESS-BSD sees marketing sales stagnant in 2014-Investor Daily

Mon Jan 27, 2014 8:01pm EST

Property developer PT Bumi Serpong Damai (BSD) expects marketing sales in 2014 to remain flat due to a restriction on high loan-to-value ratio mortgage lending and high interest rates, said Director Hermawan Wijaya.

The firm sees organic sales in 2014 reaching 5 trillion rupiah ($408.8 million), Wijaya added.

The firm booked marketing sales of 7.35 trillion rupiah in 2013, up 72 percent from a year earlier and recorded organic sales of 5.4 trillion rupiah.

BSD plans to spend 3 trillion rupiah on capital expenditure this year, unchanged from last year, the Investor Daily reported.

Note: Reuters has not verified this story and does not vouch for its accuracy.

($1 = 12230 rupiah) (Compiled by Jakarta Newsroom; Editing by Prateek Chatterjee)