JAKARTA (Yosefardi) – Property developer PT Modernland Realty Tbk (MDLN) booked marketing sales of Rp1.3 trillion in first half of this year, representing 50% of this year target.
The company targets to book revenues of Rp2 trillion this year, compared to Rp1.05 trillion last year while net profit is expected to jump by twofold to Rp800 billion, from Rp260.52 billion in 2012.
The company had sold 150 hectares land to PT Alam Sutera Realty Tbk (ASRI). It also plans to issue global bond worth US$300 million this year, used to fund acquisition of 51% interest in Jakarta-Garden City project from Keppel Land Pte Ltd, Singapore.