RealEstat.id (Jakarta) – PT Indonesian Paradise Property, Tbk (Paradise Indonesia/INPP), a company engaged in hospitality, commercial, and property sales known for its iconic properties, plans to continue increasing its recurring income.
With a recurring income portion of 90%, Paradise Indonesia is the leader in its industry. The Company will continue to increase it through new projects developed.
"We will continue to develop mixed use properties to improve the company's sustainable performance, with the hope of achieving higher recurring income targets by 2025,” said Anthony Prabowo Susilo, Chief Executive Officer of Paradise Indonesia.
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This year, he added, Paradise Indonesia will officially operate two new property projects.
"The first property, Antasari Place in Jakarta, is scheduled for handover in the first half of the year," Anthony explained.
The presence of Antasari Place will strengthen the Company’s portfolio in the property and commercial segments, with an occupancy rate already reaching 70%.
Additionally, Paradise Indonesia will also inaugurate the expansion of 23 Paskal Shopping Center in Bandung due to the high demand from prospective tenants.
"The project is expected to begin operations in the early second half of this year," Anthony Prabowo Susilo said.
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Additionally, Hyatt Place Hotel in Makassar, which was officially launched in the first quarter of last year, is expected to contribute fully in 2025.
Therefore, these projects are expected to increase the portion of recurring income for the Company this year.
To continue improving its performance and recurring income, Paradise Indonesia has budgeted capital expenditure (Capex) of Rp1 trillion allocated for the expansion of its future projects.
"The projects include the development of 23 Semarang, Antasari Place Phase 2, as well as projects in Balikpapan and Makassar," he concluded.
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