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Developer eyes sites beyond nation’s capital

Agung Podomoro Land

 

Company: Agung Podomoro Land Tbk PT 

Brand value: US$181 million

Headquarter city: Jakarta 

Year on year change: -16%

Industry: Real Estate 

Year formed: 2004 

 

Agung Podomoro Land is a real estate developer, owner and manager working across retail, commercial, and residential property. The majority of their projects in the past decade have catered to the middle classes, with projects ranging from low-cost apartments to high-end developments in South Jakarta, as well as shopping malls, hotels and office blocks. It promotes modern living in prestigious locations, and has recently been looking at developing sites beyond Greater Jakarta; these include sites in high-growth, second-tier cities such as Bogor and Karawang on Java, Medan on Sumatra, Bali and Makassar on Sulawesi. The bulk of revenue comes from property sales along with income from rent of malls and hotels. The brand is best known for its projects Podomoro City, in West Jakarta, and Senayan City in South Jakarta, which each comprise a shopping complex, office space and towers of apartments. Projects in development or currently on sale include Borneo Bay City and Orchard Park. In June 2016, APL appointed Cosmas Batubara as its new president director, replacing Ariesman Widjaja, who was linked to controversial efforts to influence coastal zoning laws. The brand communicates across all platforms, and in the past year has moved more heavily into Facebook and Instagram to support its TV, print, radio, outdoor and live events for specific developments. Agung Podomoro Land is listed on the Indonesia Stock Exchange and is the flagship listed company in the Agung Podomoro Group, which completed its first project, a housing complex in South Jakarta, in 1973.