Supported by VAT Incentives, This is the Significant Growth of Property Issuers in 2021

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Reza Pahlevi 08/04/2022 15:30 WIB

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Among large-asset property issuers, PT Alam Sutera Realty Tbk recorded the highest revenue growth, reaching 102% (yoy) in 2021.

Annual Revenue Growth Rate of Large-Asset Property Issuers (2021)

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Supported by VAT Incentives, This is the Significant Growth of Property Issuers in 2021

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Annual Revenue Growth Rate of Large-Asset Property Issuers (2021)

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In 2021, the government provided a Value Added Tax (VAT) incentive, known as the Government-Sponsored VAT (PPN DTP), for the property sector.

This incentive included VAT exemption for houses priced below Rp2 billion, and a 50% VAT discount for houses priced between Rp2 billion and Rp5 billion during the period of March-December 2021.

The incentive was implemented to revive the property sector, which had been impacted by the pandemic since 2020.

So, how did the revenue growth of property sector issuers perform in 2021?

Among large-asset property issuers, PT Alam Sutera Realty Tbk recorded the highest revenue growth, reaching 102% (yoy) in 2021. The company's revenue increased to Rp2.85 trillion in 2021, from Rp1.41 trillion in 2020.

PT Pakuwon Jati Tbk recorded a 43.5% (yoy) revenue growth, reaching Rp5.71 trillion in 2021, from Rp3.98 trillion in 2020.

PT Lippo Karawaci Tbk's revenue grew by 38.1% (yoy) to Rp16.53 trillion in 2021, from Rp11.97 trillion in 2020. Lippo Karawaci recorded the highest revenue in this list.

PT Bumi Serpong Damai Tbk recorded a revenue growth of 23.85% (yoy), reaching Rp7.65 trillion in 2021, from Rp6.18 trillion in 2020.

PT Summarecon Agung Tbk recorded a revenue growth of 10.7% (yoy), reaching Rp5.57 trillion in 2021, from Rp5.03 trillion in 2020.

Only PT Agung Podomoro Land Tbk recorded a revenue decline in 2021. Agung Podomoro's revenue decreased by 14.1% (yoy) to Rp4.26 trillion in 2021, from Rp4.96 trillion in 2020.

For this year, the PPN DTP incentive is still in effect until September 2022, but with a smaller DTP percentage.

Now, buyers of houses priced below Rp2 billion are subject to 50% VAT, while buyers of houses priced between Rp2 billion and Rp5 billion are subject to 75% VAT.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Supported by VAT Incentives, This is the Significant Growth of Property Issuers in 2021

Supported by VAT Incentives, This is the Significant Growth of Property Issuers in 2021

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Supported by VAT Incentives, This is the Significant Growth of Property Issuers in 2021

Supported by VAT Incentives, This is the Significant Growth of Property Issuers in 2021

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Related Data

List of Persija Jakarta's Championship Titles Over 97 Years Since Its Founding

Data on the Number of Houses Flooded Due to Natural Disasters in Indonesia in 2014

Number of Severely Damaged Houses due to Natural Disasters in Indonesia 2015-2024

Superbank Ready for IPO, Targets Rp3 Trillion

Superbank's Assets Grew Rapidly Before IPO

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