Jakarta. Property giant Lippo Karawaci aims to achieve Rp 5.38 trillion ($342.15 million) in pre-sales this year, capitalizing on the booming property market in Greater Jakarta, particularly in the Tangerang Area.

John Riady, the Group CEO of LPKR, mentioned that to achieve the 2024 target, the company will rely on new residential and commercial products in Lippo Village in Tangerang and Lippo Cikarang in West Java, as well as in other areas in the company's reserve land.

The target represents a 10 percent increase compared to the goal set in 2023. In that year, Lippo recorded pre-sales of Rp 5.12 trillion, marking a 7 percent year-on-year increase and 5 percent above the target set at Rp 4.9 trillion.

John said that the pre-sales achievement in 2023 reflects the high demand for the company's affordable landed houses and commercial products. He also added that the launch of Park Serpong, including the XYZ Livin series, has created new demand opportunities for Lippo Karawaci.

"Therefore, we believe that Park Serpong will play a crucial role in driving the company's performance in the future," said John in his statement on Thursday.

Park Serpong, located south of Lippo Village, Tangerang, was launched in the fourth quarter of 2023.

A Cushman & Wakefield Indonesia report reveals that in the second half of 2023, there are 9,019 new landed house units in Greater Jakarta, with 65 percent situated in Tangerang.

Cushman & Wakefield Indonesia's report also reveals that the overall landed housing market in Greater Jakarta is expected to improve in 2024. Several developers are gearing up to launch new products, with the majority of supply projected to come from middle-segment houses targeting millennials and young families, as well as upper-segment houses targeting more mature families.