Lippo Cikarang, 26 November 2016
Lippo Group, through its subsidiary PT Lippo Cikarang Tbk (“LPCK”), today announced the successful sale of Newport Park, the 6th apartment tower built in Orange County.
Duringthe Grand Preview on Saturday, November 26th, 2016 atMaxxBox Orange County, Lippo Cikarang, theprospectivecustomerswereveryenthusiastictoget a unit atNewport Park, thefirstapartmenttowerintheEastern Jakarta Corridorthat is enabled by smartfeaturessuch as retina accesssecuritysystem, smartdoorlocksystem, andsmartlighting.
“We are very happy because 87% of Newport Park Apartment units weresold and generated sales of morethan Rp390 billion,” saidPresident Director of PT Lippo Cikarang Tbk, Toto Bartholomeus.
“This, once again proves that the high quality propertyproducts with international standardsthat we offer, remains the top choice forconsumers who want a home that brings comfort, safety and is supported by a wide range of facilities to suit today’s digital lifestyle,” added Toto Bartholomeus.
“Thebuyers’high enthusiasm is a reflection of high consumerconfidenceinNewport Park whichisa joint ventureproject between Lippo Group and Mitsubishi Corporation through its subsidiary, PT Diamond Realty Investment Indonesia.”
As is known, both public facilities and unit facilities at Newport Park Apartment will adoptJapanese culture such as Ofuro Japanese spa, Japanesegarden, interior inspiredbytatami room, and Zen balcony.
The architectureisdesignedby Mitsubishi JishoSekkeiIncand interior publicspacesby George Kunihiro – T Life,with both partieshaving a global reputationin their respective field.
Lippo Group and PT Diamond Realty Investment Indonesia, some time ago has appointed PT Kajima Indonesia to work on Pilling Structure and Design Development at Newport Park Apartment.
Director / Chief Marketing Officer of PT Lippo Cikarang Tbk Stanley Ang added, the potential return on investment for renting apartment units in Lippo Cikarang has now reached 16% -20% per year.
“Thus, for owners of Newport Park Apartmentwhowanttorenttheunitshave a great opportunity to make a profit given that Orange Countyissurroundedbyaround 2,500 multinationalcompaniesthat absorb largeexpatriate workers, which of courseis a verylucrativemarket for apartment rental business,”added Stanley Ang.
Newport Park Apartment is the sixth apartment tower at Orange County, after Irvine Suites, Westwood Suites, PasadenaSuites, BurbankSuitesandGlendale Park. The previous five towerswere successfully 100% sold in each of its launching. Burbank Suites was sold to a single Japanese company before launched, Sanko Soflan Holdings.
Newport Park Apartment consists of several types, namely 1BR, 2BR and 3BR, with an area ranging from 31m2 to 97m2 and with price range startingfrom Rp 550 million to Rp 2 billion. Monthly installments for thesmallesttype startfrom Rp 6 million.
Orange County is a mega construction project with anarea of 16,500,000 square meters, on Lippo Cikarang CBDwhich occupyies an area of 82.3 hectares, of whichthe first phase construction will be carried out over an area of 19.5 hectares.
Orange County is equipped with super complete 32-in-1 facilities, such as Lippo Mall (390,000 square meters), Luxurious Residential, Shopping Street, 61 Lippo Plaza, Lippo 5 star-hotel (200 rooms), and the Convention Center (7,000 people).
Orange County is located right in the middle of Jakarta – Bandung as well as right at the centre of seven industrial estates. The position of Orange County as a hub in the Eastern Jakarta Corridor, strengthened by the development of 5 new infrastructures, namely the existence of a fast train that makes Jakarta-Bandung accessible in just 30 minutes, the construction of Cawang-East Bekasi LRT which have been in progress and thecorridor will continue until Karawangfor the next stage, the presence of Kertajati International Airport as well as PatimbanDeep Seaport which will boost industrial growth in the eastern area and the Automated People Mover, a monorail that would connect seven industrial estates in the eastern area, including Orange County and Lippo Cikarang.
PT Lippo Cikarang Tbk is an integrated township developer covering an area of approximately 3,000 hectares with a variety of city facilities with international standard and industry as its economic base.
PT Lippo Cikarang Tbk has successfully built more than 14,000 residential homes with a population of 47,700 people. Every day, 448,000 people are working in around 920 manufacturing companies spread out in the Lippo Cikarang industrial area.
For Further information:
Dea Thamrin
Corporate Secretary
PT Lippo Cikarang Tbk
021-8972484 ; 021-8972488
Hong Kah Jin
Director
PT Lippo Cikarang Tbk
021-8972484; 021-8972488
Disclaimer:
This press release has been prepared by PT Lippo Cikarang,Tbk (“LPCK”) and is circulated for the purpose of general information only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the securities of LPCK. No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimations included in this release constitute our judgment as of this date and are subject to change without prior notice. LPCK disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this press release and neither LPCK nor any of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or 3 otherwise, in this press release and any inaccuracy herein or omission here from which might otherwise arise.
Forward-Looking Statements.Certain statements in this release are or may be forward- looking statements. These statements typically contain words such as “will”, “expects” and “anticipates” and words of similar import. By their nature, forward looking statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this release. Factors that could cause actual results to differ include, but are not limited to, economic, social and political conditions in Indonesia; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatory burdens in Indonesia, including environmental regulations and compliance costs; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for our property products and related capital expenditures and investments; the cost of construction; availability of property products; competition from other companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training, governmental and public policy changes; our ability to be and remain competitive; our financial condition, business strategy as well as the plans and objectives of our management for future operations; generation of future receivables; and environmental compliance and remediation. Should one or more of these uncertainties or risks, among others, materialize, actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized. Although we believe that the expectations of our management as reflected by such forward-looking statements are reasonable based on information currently available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and we undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
