Sunday, 21 April 2019 | 19:56 WIB

Toyota Astra Motor Purchases Industrial Land worth IDR386 Bln from Intiland Development

Toyota Astra Motor (alamatpt)

JAKARTA, NETRALNEWS.COM - Toyota Astra Motor (TAM), subsidiary of Astra International (ASII.JK), is set to buy 20.3 hectares of land at the Ngoro Industrial Park (NIP) owned by Intiland Development (DILD.JK). The land purchase value reaches IDR386 billion.

The transaction is carried out by Intiland Development’s subsidiary, PT Intiland Sejahtera. The subsidiary and TAM signed a sale and purchase agreement on April 12, 2017, in Surabaya, East Java.

 Archied Pradono Noto, Director of Capital Management and Investment at Intiland Development, explained that the industrial land purchase gave a positive signal to the prospects of the industrial area in the future.

The land purchase also shows that NIP industrial area is still a favorite choice for a variety of national and multinational companies.

 "This investment signifies the industrial estate sector showing improving trends. We certainly welcome the confidence of investors to invest in Ngoro Industrial Park, "said Archied on Thursday (4/13).

TAM plans to develop an integrated facility for the distribution of vehicles and spare parts storage facility at NIP.

Industrial land sales business is one of the four segments of Intiland’s property development. This segment provides strategic value because it has been proved to generate significant contribution.

Archied expresses optimism that along with the recovery of investment climate and improving of national economy, the need for industrial land in Indonesia will continue to increase.

Since the beginning of 2017, the company has successfully marketed 23 hectares of industrial land at NIP. Intiland Development has also markets industrial land to domestic companies engaged in the field of home furnishings area of 2.7 hectares with a value of about IDR50 billion in the first quarter of this year.

 Archied revealed that along with the high demand and the need for industrial land, the company continue make developments at NIP. To meet and anticipate these trends, Intiland Development is preparing an additional development area with an area of approximately 125 hectares.

 Looking ahead, the company will focus more on sales of warehousing tailored to the needs of each investor. Until April this year, the acquisition of the company's marketing sales in the segment of industrial zones has reached around IDR436 billion.

"This achievement exceeded the target set at the beginning of the year with a sales area of 10 hectares or worth IDR185 billion," he said.