Jakarta. Property giant Lippo Karawaci achieved a pre-sale of Rp 5.12 trillion ($327.85 million) in 2023, riding on the success of its flagship integrated township project, Lippo Village, particularly the Cendana Homes Series.

Lippo exceeded its initial target by 5 percent from Rp 4.9 trillion. Lippo Village maintains its position as the largest contributor at approximately 51 percent, totaling Rp 2.62 trillion. Lippo Cikarang followed with 25 percent or Rp 1.30 trillion, while various projects in other cities accounted for the rest.

John Riady, Group CEO of LPKR, attributed the increase to the high demand for affordable landed housing and commercial products offered by the company.

"The success of the Park Serpong launch, including the XYZ Livin series, has opened up new demand opportunities, and we believe the upcoming Park Serpong development will play a crucial role in driving the company's performance in the future," he said in a statement on Tuesday.

Landed housing played a crucial role in the pre-sales success, contributing 79 percent to the total sales in Lippo Village. The dominant force in this category was the Cendana Homes Series, featuring the top three products: Cendana Essence, Park Serpong, and XYZ Livin Series.

Looking ahead to 2024, LPKR is dedicated to ongoing innovation, unveiling a range of new products with diverse pricing strategies aimed at meeting the evolving demands of various buyer segments.

The company has set an ambitious pre-sales target of Rp 5.38 trillion for 2024, representing a 10 percent increase from the 2023 target. The achievement of this target will be supported by the launch of new residential and commercial products in Lippo Village and Lippo Cikarang, as well as in other areas.

John Riady acknowledged LPKR's ongoing commitment to preparing and launching prospective projects to enhance the company's performance. "We remain optimistic about our ability to boost performance in the coming year," he concluded.

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