Jakarta. Lippo Karawaci, Indonesia’s biggest listed property developer, scooped prestigious awards both at home and overseas in the first quarter of this year for its mega property projects.
The developer announced that it had received the Highly Commended Development Asia Pacific Property Awards 2015, held by International Property Media, this month in Kuala Lumpur, Malaysia.
The Highly Commended Development Asia Pacific Property Awards 2015 is a prestigious award given by the media organization to international property developers.
This year, Lippo Karawaci, which is affiliated with GlobeAsia through the Lippo Group, received awards in four categories for projects developed by its Lippo Homes.
Lippo’s Rp 2.5 trillion The Embarcadero Park Bintaro – Eastern Wing project in Bintaro, Tangerang won the Residential High Rise Development category. The St. Moritz Makassar, a Rp 3.5 trilion project which sits on a 2.7 hectare land and adopts a mixed used development concept in Makassar, South Sulawesi won the Residential High Rise category.
The Rp200 trillion mega Millenium Village project in the integrated Kemang Village area in South Jakarta scooped an award in the Condominium category.
The developer also took home an award for its Bloomington Kemang Village project in the Condominium category.
At home, Lippo Karawaci was also bestowed the Best Listed Companies 2015 award in the Property and Building Construction sector by Investor Magazine.
“We are very happy to receive the highest awards in the Asia Pacific Property Awards 2015 and Best Listed Companies 2015 in property and building construction sector. The (awards) will strengthen our existence as a developer that will continue to bring a significant contribution to the economy and opens job opportunities for the public in general,” said Jopy Rusli, chief marketing officer of Lippo Homes.
Lippo Karawaci posted a growth in profit in the first three months of this year on the back of recurring revenue, the company said in a statement earlier this month.
According to a filing on the Indonesian Stock Exchange, the company’s net profit grew 23 percent to Rp 417 billion ($32 million) in the January-March period, compared to Rp 339 billion earned in the same three months of 2014.
Both revenue and total spending increased 23 percent year-on-year to Rp 2.4 trillion and Rp 1.3 trillion respectively.
The property developer’s recurring revenue from malls and hospitals also grew 23 percent to Rp 1.3 trillion and contributed 53 percent of total revenue in this year’s January to March period.