HONG KONG, March 4, 2024 /PRNewswire/ — PT Indonesian Paradise Property Tbk (IDX: INPP) is a developer and operator of iconic lifestyle properties in several top locations across Indonesia. INPP initially began as a budget hotel owner and now it has evolved to operate at the highest standard of quality and gradually integrating ESG elements into its new mission, showcasing a commitment to sustainability and responsible business practices.

Diversified Portfolio with Solid Recurring Income

INPP is renowned for delivering upscale commercial and residential properties in prime locations across the country. Its distinctive projects encompass luxury residential properties, office buildings, retail centers, and hotels, featuring unique architectural styles that set them apart.

INPP’s primary source of income is recurring, accounting for 75% of its revenue in FY22 with a focused business model encompassing four key verticals: commercial, hospitality, property sales, and investment.

  1. Commercial Sector: INPP’s modern lifestyle concept malls collectively offer around 248,634 m2 of commercial net leasable area (NLA) across Jakarta, Bali, and Bandung. The commercial segment contributed significantly to revenue, providing IDR 388.4 billion in 2022, a notable 58% increase, and accounting for 41% of total revenue.
  2. Hospitality Segment: INPP’s portfolio includes 10 operational hotels under 7 different brands, offering accommodations ranging from 2-star business to 5-star luxury. These hotels located in Jakarta, Bali, Batam, and Yogyakarta. The hospitality segment made a significant contribution to revenue, totaling IDR 317.7 billion in 2022, a substantial 169% increase, and accounting for 33% of total revenue.
  3. Property Sales Segment: INPP serves as a developer for over 1,000 exclusive high-rise residential units complementing commercial or hospitality developments in Jakarta, Batam, Makassar, and Bali. The property sales segment significantly contributed to revenue, amounting to IDR 240.6 billion in 2022, marking an impressive 336% increase, and accounting for 25% of total revenue.

Positive Performance Realization   Target 20% Revenue Increase in 2023

INPP is targeting an increase of over 20% in revenues for 2023, to be bolstered by strong improvement in recurring income. The outlook for 2024 is also positive. For the nine months ended September 30, 2023, INPP experienced robust growth which was attributable to a strong recovery in the Hospitality and Commercial sectors, particularly in most of the strategic assets located in Bali, a primary tourist destination. Additionally, Property Sales have demonstrated an impressive three-fold increase.

Strong presence in Indonesia:
INPP has established a strong presence in Indonesia for the past 21 years, having developed iconic commercial, residential, and hospitality lifestyle destinations such as Plaza Indonesia in Jakarta, Beachwalk Shopping Center in Bali, and 23 Paskal Shopping Center in Bandung.

Expansion Strategy Reaches Beyond Java and Bali

INPP distinguishes itself in the real estate industry with its diverse portfolio of luxury properties, strategically positioned across Indonesia, spanning residential, office buildings, retail centers, and hotels. The commitment to delivering high-end offerings, coupled with a proven track record of project excellence, makes INPP a standout player in the field. INPP’s expansion strategy extends beyond Java and Bali to encompass emerging cities like Kalimantan and Sulawesi, showcasing their ambition and adaptability.

High Occupancy Rates And High-Quality Tenant Mix

In the nine months of 2023, the average occupancy rate for INPP’s shopping centers reached around 91%. INPP has effectively diversified its lease expiry profile to minimize risks by strategically managing the percentage of Net Leasable Area (NLA) expiring each year.

Future Strategy:

Future Projects: 

Recent developments include Antasari Place, an integrated project in South Jakarta offering residential and commercial spaces. Handover of the residential units are scheduled by 2024. 31 Sudirman Suites & Hyatt Place Makassar is a luxurious mixed-use properties combining the contemporary Hyatt Place and an luxury apartment. INPP has recently launched the Hyatt Place as the first Hyatt Place in Indonesia in last February 17th, 2024, now poised to become the latest premium landmark in Makassar. Other exciting projects such as a commercial Mall near Marina Beach in Semarang and the extension of 23 Paskal Bandung are in the pipeline.

Looking further into the future, INPP planned development projects include mixed-use properties in Balikpapan and mixed-use properties in Makassar, aligning with Indonesia’s growing economy.

Mission and theme

INPP embraces the business theme of “Building Tomorrow” as the essence that underpins its culture, working methods, and strategic decision-making in organizational development, with its core values being Entrepreneurship, Passion, Integrity, Collaboration, and Creativity. The business theme is aimed at strengthening the company’s vision to develop and operate iconic lifestyle destinations in major cities in Indonesia. It also drives the company’s mission of providing comfortable spaces and warm service at each of its properties.

About PT Indonesian Paradise Property Tbk

PT Indonesian Paradise Property Tbk is a developer and operator of iconic lifestyle properties in several top locations across Indonesia. INPP along with its subsidiaries owns and manages a diverse portfolio of hotels, shopping centers, and apartments which synergize to create a sustainable business model. INPP owns 13 hotels in Jakarta, Bali, Batam, and Yogyakarta, and operates 6 shopping centers in Jakarta, Bandung, and Bali. In line with the company’s vision to build iconic property projects, INPP continues to create mixed- use property developments. INPP currently manages 4 active developments such as Hyatt Place Hotel in Makassar; 23 Paskal expansion in Bandung; Antasari Place mixed-use development in Jakarta; and a flagship mixed-use development in Semarang.

“We develop and create Iconic Lifestyle Destinations in Indonesia’s greatest cities”.