BSDE - BSDE and Astra Land to form joint venture

Bumi Serpong Damai (BSDE) and Astra Land Indonesia (ALI) establish a joint venture named Ruby Karya Sejahtera (RKS) that is engaged in the property sector. For the record, both companies are not affiliated. ALI is an indirect subsidiary of Astra International (ASII), which was formed in December 2021. This year, BSDE will launch property products and offer them for IDR 1 billion to IDR30 bn per unit. The products include landed houses, shophouses and apartment, as well as commercial land plots. (Source : IDN Financials). Comment: The JV will underpin BSDE growth ing forward and enrich its pipeline project which in turn will creates continuing better pre sales. Market for middle up will is likely will remain intact amid the mortgage loan repricing. Ceteris paribus, resilient domestic economy will maintain loan demand attitude and impacting take up rate to remain robust.