Metropolitan Land (MTLA) Counts on Residential Projects Next Year

Reporter: Amalia Nur Fitri | Editor: Khomarul Hidayat

KONTAN.CO.ID – JAKARTA. Property issuer PT Metropolitan Land Tbk (MTLA) said that the property business this year faced many challenges.

MTLA Director Olivia Surodjo said that some of these challenges include macroeconomic issues, high interest rates in America and the start of the political year. “This is what makes people wait and see to make purchases,” he told Kontan, Friday (28/12).

However, there are a number of catalysts that drive MTLA performance. Among other things, at the beginning of the year mortgage interest rates were quite low, economic conditions and the domestic situation were under control, as well as government stimulus in the form of value added tax incentives borne by the government (VAT DTP).

Olivia believes that this is what drives performance at the end of the year.

Also Read: MTLA Focuses on Residential Products in 2024, Here are the Stock Recommendations

Until November 2023, MTLA’s marketing sales consisting of pre sales and recurring revenue were recorded at IDR 1.5 trillion, or around 83% of the annual target. “Seeing this achievement, MTLA is quite optimistic that it can achieve its target by the end of the year,” he added.

Next year, Olivia projects that people will again hold back property purchases because they are facing a political year. However, it is hoped that stimulus from the government for the property industry will encourage potential consumers’ purchasing decisions.

In 2024, MTLA will still rely on and continue developing ongoing projects both residential and commercial. The new projects will include the Metland Cikarang and Metland Kertajati residential projects.

According to Olivia, landed house projects are still the focus of MTLA’s work and superior products. Almost all ongoing residential projects will release their newest products in 2024.

“Meanwhile, we are still discussing the capex for 2024 and it cannot be announced at this time,” he added.

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