Property developer PT Bumi Serpong Damai (BSD), controlled by the Sinar Mas Group, booked sales of 2.75 trillion rupiah ($236.76 million) in the first half of this year, representing 46 percent of its full-year target, said Corporate Secretary Hermawan Wijaya.
Sales in urban centres made up more than 65 percent of the total. The company plans to launch new property projects in North Sulawesi and East Kalimantan later this year. Bumi Serpong's capital expenditure in the first quarter of this year was 800 billion rupiah. It aims to spend 3 trillion rupiah in capex this year to build infrastructure and for land acquisition, Hermawan said. (Kontan)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11,615 Indonesian rupiah) (Compiled by Jakarta Newsroom; Editing by Anupama Dwivedi)