Sinar Mas Land Provides 20% DP Subsidy Stimulus, Has “Infinite Living” Program 2024

TANGERANG;– The property industry is projected to continue to grow in 2024. This optimism is indicated by the Residential Property Price Index (IHPR) for the third quarter of 2023 which grew by 1.96% (yoy), higher than the growth in the previous quarter of 1.92% (yoy ). A number of strategies and incentives have also been prepared by the government to maintain the growth of the property industry, one of which is the establishment of an incentive policy in the form of Government Borne Value Added Tax (VAT DTP) of up to IDR 220 million for the purchase of new houses, whether landed houses or ready-to-live-in apartments which have been implemented since November 2023 until December 2024.

Taking advantage of this momentum, Sinar Mas Land has also prepared a number of additional stimuli, this is to encourage the public to continue looking at the property sector in 2024 by launching a national sales program entitled Infinite Living. Not only is there a down payment subsidy of up to 20%, Sinar Mas Land also provides convenience, namely discounts of up to 26%, and free fees on the acquisition of land and building rights (BPHTB). The program, which was officially launched on February 22, is valid until the end of 2024.

Herry Hendarta, Deputy Group CEO Strategic Development & Assets Sinar Mas Land said, Sinar Mas Land always strives to provide convenience and relief for consumers to own their dream property, from housing, commercial, apartments to residential plots.

“With the Infinite Living program, we hope that consumers will get a property to live in, do business or invest. “Through this national sales program, we are targeting revenue of IDR 2.8 trillion from sales of ± 1,400 property units offered, so that it will contribute to the company’s marketing sales target in 2024,” he said.

Herry admitted that the Infinite Living Program offers a number of promotions which are divided into 3 periods throughout 2024. Period I is the one with the most promotions, starting from March 1 to June 30 2024. Followed by period II from July 1 to September 30, and the final period on 1 October – 31 December 2024. Apart from ease of payment, consumers also have the opportunity to get direct prizes.
“There is 1 Myza Flat-House unit in BSD City (drawn at the end of period I) and 1 unit of the Southgate Altuera apartment in the TB Simatupang area, Jakarta (drawn at the end of period III),” said Herry.

Meanwhile Hermawan Wijaya, Director of PT Bumi Serpong Damai Tbk (BSDE) added, PT Bumi Serpong Damai Tbk (BSDE), one of the leading developer members of Sinar Mas Land, showed a positive performance trend in 2023. BSDE posted pre-sales figures throughout 2023 of IDR 9.50 trillion. This achievement exceeded the previously set target of IDR 8.80 trillion. For this year, we are also targeting marketing sales of IDR 9.50 trillion.
“Looking at macroeconomic growth in 2023 and government incentive support which will continue until December 31 2024, we are very optimistic that this year we can achieve the target, one of which is through the Infinite Living program,” hoped Hermawan Wijaya.

Hermawan said, Infinite Living offers maximum price reductions for several products including landed residences, shophouses, apartments, and residential plots. This program also provides promotions for easy payment methods such as Hard Cash and KPR/KPT/KPA. Of the total number of units offered, 60 percent will receive a VAT DTP incentive of up to IDR 220 million. For priority customers from partner banks, specifically for transactions 1–10 March 2024, you will get an additional discount of up to 4% and shopping vouchers of up to IDR 5 million. Meanwhile, Precious Sinar Mas Land customers will get an additional discount of 1.25% for their next purchase of Sinar Mas Land products.

Mi Sinar Mas Land’s projects that are part of the Infinite Living program are spread across a number of areas.

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