Sinar Mas Land, a leading property developer in Indonesia, has announced its latest strategic initiative to strengthen its position in the real estate industry. Through PT Bumi Serpong Damai Tbk (BSDE), the company finalized the acquisition of a 91.99% stake in PT Suryamas Dutamakmur Tbk (SMDM) on October 23, 2024.

This acquisition aligns with Sinar Mas Land’s vision of enhancing its presence in rapidly developing satellite cities such as Cibubur, Cileungsi, and Bogor. Known for their fresh air and serene environment, these areas are becoming increasingly attractive for urban dwellers seeking comfortable and sustainable housing solutions.

SMDM’s portfolio brings substantial value to Sinar Mas Land’s expansion strategy. The acquisition includes renowned developments such as Rancamaya Golf Estate, Royal Tajur, Harvest City, and Rancamaya Golf & Country Club. These projects are well-established in West Java, covering residential, commercial, and leisure properties.

“With SMDM joining our portfolio, Sinar Mas Land will leverage the combined expertise to create superior property projects that directly benefit the communities in and around Bogor,” stated Herry Hendarta, Deputy Group CEO for Strategic Development and Assets at Sinar Mas Land.

Key developments under SMDM include Rancamaya Golf Estate, spanning 500 hectares, which will feature premium residences, villas, and a golf course set against the picturesque Mount Salak. Meanwhile, the Royal Tajur project, located in central Bogor, is poised to become a sub-CBD area with access to the Bogor Inner Ring Road (BIRR), covering 88 hectares. Harvest City, with its massive 1,350-hectare area, is expected to evolve into an independent township.

Beyond residential developments, SMDM also bolsters Sinar Mas Land’s commercial portfolio. R Hotel Rancamaya, a four-star hotel with 132 rooms and 6 exclusive villas, complements the growing tourism ecosystem in Bogor. Additionally, the internationally recognized Rancamaya Golf & Country Club enhances the region’s appeal to both national and international golf enthusiasts.

Sinar Mas Land plans to continue upgrading the infrastructure, amenities, and accessibility of these areas. The company’s approach remains consistent—prioritizing customer satisfaction, environmental sustainability, and innovative design to ensure long-term value for residents and investors.

The acquisition is expected to further strengthen Sinar Mas Land’s presence in the Jabodetabek region, particularly in the southern and eastern parts of Jakarta. By integrating SMDM’s assets and expertise, the company aims to solidify its standing as a key player in Indonesia’s real estate market while expanding its portfolio to meet evolving market demands.

PR KONTAN