Jakarta – PT Lippo Karawaci Tbk (“LPKR” or “Company”), Indonesia’s leading real estate and healthcare platform, announced its FY24 marketing sales results of IDR 6.01tn, equivalent to 112% of the FY24 target. This achievement reflects a 17% increase compared to FY23.  

Landed residential properties continued to lead Lippo Karawaci’s marketing sales in FY24, contributing 64% of total sales. This performance was largely driven by the sustained demand for first-home owner landed housing from prior launches, including Cendana Homes, XYZ Livin, and Waterfront Uptown, alongside the recent introduction of the Zen series, Cendana Suites and Blackslate series at Park Serpong and XQ Livin in Lippo Cikarang Cosmopolis.

We began handing over the first phase of Park Serpong in November 2024, showcasing our commitment to customer satisfaction by completing the project ahead of schedule in less than 18 months.

Exhibit 1: Marketing sales results (in IDR bn)

Exhibit 2: Marketing sales targets vs results (by projects) 

¹ Various locations including Lippo Village, Park Serpong, Tanjung Bunga, Jakarta, and Manado 

Lippo Karawaci (Holdco) achieved IDR 6.01 trillion in marketing sales for FY24, reaching 112% of its full-year target. This performance was primarily supported by residential sales, which contributed IDR 2.99 trillion, followed by land plot sales of IDR 491 billion and commercial sales of IDR 494 billion. Additionally, cemetery plot sales in San Diego Hills contributed IDR 202 billion to total marketing sales.

The strong performance in residential sales was driven by the third launch at Park Serpong, featuring a variety of premium and first-home owner products such as the Cendana Suites, Blackslate Series, and XYZ Series. These launches achieved an impressive 94% take-up rate on the day of launch.

The Cendana Suites come in two variants: Type 5 (67.5m² land, 78.1m² building) and Type 5.5 (79.8m² land, 88.8m² building), with starting prices of IDR 943 million and IDR 1.03 billion, respectively. Additionally, we launched a more luxurious option, Blackslate Series, featuring 4 bedrooms and 3.5 bathrooms, with a 112m² land area and 125.5m² of built-up space, starting at IDR 1.81 billion. 

Exhibit 3: Marketing sales breakdown in Lippo Karawaci 

Lippo Karawaci (Holdco) primarily operates in the western Greater Jakarta area, with a diverse portfolio that spans landed and mid-rise residential units, shophouses, and high-rise residential properties. In 2024, landed residential sales in this region were a key focus, generating IDR 2.68 trillion from the sale of 3,317 units. Prominent projects in this segment include the Q Livin, XYZ Livin, and Cendana series at Park Serpong.

Shophouse sales also performed strongly, with 248 units sold totaling IDR 494 billion, driven by the popularity of The Hive Parkhills at Park Serpong.

Exhibit 4: Marketing sales breakdown in Lippo Cikarang

Lippo Karawaci’s listed subsidiary, Lippo Cikarang, reported marketing sales of IDR 1.64 trillion for the same period, with residential products contributing 51%, followed by commercial products at 22% and industrial products at 27%. 

In FY24, Lippo Cikarang achieved IDR 1.64 trillion in marketing sales, primarily driven by strong demand for landed residential properties and shophouses, which accounted for 48% and 22% of total sales, respectively. Key products in the landed housing segment included the popular XYZ Livin and Cendana Spark North.

Exhibit 5: Park Serpong Phase 1 Handover 

Exhibit 6: Payment profile (excluding land plot sales)

In terms of payment profiles, 69% of total marketing sales were financed through mortgages, reflecting an increase compared to the previous year. Demand in the affordable housing segment remains strong, driven by high mortgage utilization, which underscores the significant presence of end-users in this market.

FY25 Marketing Sales Guidance

Looking forward, LPKR has established a marketing sales target of IDR 6.25 trillion for FY25, reflecting a 16% increase from the FY24 target. This growth will primarily be driven by new residential and commercial developments in Lippo Karawaci, Lippo Cikarang, and other areas within the Company's landbank. The Company remains vigilant of the current global macroeconomic challenges and will proactively assess any potential risks that may affect future marketing sales and overall performance.

John Riady, the CEO of LPKR said, “We are committed to expanding our portfolio and driving innovation for first-time homebuyers through the introduction of new affordable housing products at Park Serpong and Lippo Cikarang Cosmopolis. As we prepare for the upcoming launches of our pipeline projects, we remain confident in our ability to build upon our strong performance in the year ahead.”

About Lippo Karawaci (“LPKR”) (www.lippokarawaci.co.id)

Listed on the Indonesia Stock Exchange, Lippo Karawaci (“LPKR”) is Indonesia’s leading real estate and healthcare platform, with a presence in 26 provinces and 56 cities across Indonesia and total assets of IDR 50tn as of 31 December 2023. Our core business comprises real estate development, township management, healthcare, lifestyle malls and hospitality.

As a leading real estate developer and township operator with 1,421 ha of landbank ready for development, LPKR develops and manages urban developments primarily in Java and Sulawesi, including at our flagship township Lippo Village in Tangerang. Through LPKR’s two publicly listed subsidiaries, PT Lippo Cikarang Tbk and PT Gowa Makassar Tourism Development Tbk, of which we own 83.99% and 62.69% respectively, we also develop and manage the townships of Lippo Cikarang in Bekasi and Tanjung Bunga in Makassar. 

In addition, LPKR owns 29.09% of PT Siloam International Hospitals Tbk, Indonesia’s leading private hospital network, with 41 hospitals and 72 clinics in 23 provinces nationwide. Aside from healthcare, we manage 59 malls across Indonesia, and hold a 47.29% stake in Lippo Malls Indonesia Retail Trust, a Singapore-listed REIT with SGD 1.5 billion of assets under management as of 31 December 2023. We also operate 10 hotels under the Aryaduta brand, and a country club and golf course.

For more information, please contact:
Investor Relations:
Dr. Randi Bayu Prathama

Head of Investor Relations

Randi.Prathama@lippokarawaci.co.id

Mobile: +62811225873

Corporate Communications:
Nuke Prabandari
Head of Corporate Communications

Nuke.Prabandari@lippokarawaci.co.id

Office: +622125569000