JAKARTA (Yosefardi) – Property developer PT Summarecon Agung Tbk (SMRA) allocates capital expenditure (capex) of Rp2.7 trillion for this year.
The company has previously obtained loan of Rp550 billion from Bank Central Asia. It also raised Rp500 billion from bond issue in November 2015.
Now SMRA has external funding of Rp1.05 trillion. It also mulls to issue real estate-collective investment contract (DIRE) and to launch the initial public offering (IPO) of its unit PT Summarecon Investment Property (SIP).
SMRA targets to book marketing sales of Rp4.5 trillion this year, contributed by Summarecon Bandung (Rp1 trillion), Summarecon Serpong (Rp1 trillion), Summarecon Bekasi and Kelapa Gading (Rp1.5 trillion).