JAKARTA (Yosefardi) – Investors focus buying in shares of PT Jababeka Tbk (KIJA) this morning, as a result the stock jumped 6.25% to Rp255.
The company plans to develop a city in East Java, under a joint venture (JV)with Singapore-listed
Sembawang Corporation. KIJA holds 51% ownership on JV.
KIJA will acquire 1,000 hectares land for developing its own city, part of the company’s long term plan for 100 cities projects in the country.
KIJA will also partner with China-based Hanking to develop 200 hectares land in Tanjung Lesung, a property and tourism project.
KIJA targets to book revenue of Rp2.5 trillion this year, of which the recurring income will contribute 50% revenue.The company booked marketing sales of Rp1.4 trillion by September this year.