Pollux Properties Indonesia Posts Record 707% Increased Profit In Q2 2021, Eyes Post-Covid Growth

JAKARTA SELATAN, Indonesia - Oct. 5, 2021 - PRLog -- PT Pollux Properties Indonesia [IDX: POLL], a leading developer of real estate in Indonesia, today reported that profit attributable to the Company's shareholders for Q2 quarter ended 30 June 2021 are up 707.64% to USD$8.19 million, compared to USD$1.02 million for the same quarter last year.

Total revenues for the three-month period ended 30 June 2021 are up 122.27% to USD$30.63 million compared to USD$13.78 million for the same quarter last year.

STRONG MANAGEMENT LEADING TO EFFICIENT OPERATIONS AND SUCCESSFUL COMPLETION OF INVESTMENT PROPERTIES DESPITE PANDEMIC CONDITIONS:

The Group attributes this year's remarkable Q2 performance to the astute leadership from the Board and all employees who has led to the successful completion of our key investment properties Pollux Chadstone and Pollux Meisterstadt Phase 1, as well as the efficient operations of our recurring income components within our properties.

HIGHLIGHTS OF COMPLETED INVESTMENT PROPERTIES:

The Group has successfully completed Pollux Chadstone – a 300.000 m2 world-class, vertical integrated development strategically located at the heart of Cikarang city. Comprising of 3 high-rise 45 storey apartment towers, 1 international branded serviced residences tower, a shopping mall, 2 blocks of upscale hotel suites and a 4-star business hotel – Pollux Chadstone is now energizing and serving the city's diverse local and expat community as Cikarang's largest and tallest, sustainable landmark.

The Group has also completed the first phase of Pollux Meisterstadt that consists of 3 apartment towers, an upscale hotel and serviced residences tower as well as 113 shop units with a total Semi Gross Floor Area (SGFA) of approximately 300,300m2.

The Group has completed 84,500m2 of premium office space in the prestigious World Capital Tower. During the year, the portfolio registered stable performance with satisfactory occupancies amid challenging market conditions.

2022 PERFORMANCE – RESTARTING MARKETING PROCESSES AND OPERATING INVESTMENT PROPERTIES TO FUEL POST COVID GROWTH:

The Group expects our earnings performance in 2022 to increase substantially from new property sales and recurring income from our upcoming properties that includes 2 new malls totalling 60,000m2 of Net Lettable Area (NLA), 60.000m2 NLA of office space, and 1700 keys of hospitality asset as pandemic situation improves.

Download the full release, result announcement and additional high resolution images related to this release: https://bit.ly/pollpr-29-09-2021