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PT Lippo Cikarang Tbk is one of the biggest urban development companies in Indonesia. The company started its activities in the 1990s with the development of an environmentally friendly industrial and residential zone in Cikarang (Bekasi), approximately 30 kilometers to the east of Jakarta. The company is a subsidiary of Lippo Karawaci, one of Indonesia’s largest listed property developers.
|Industry Sector||Property, Real Estate and Construction|
|Industry Sub Sector||Property and Real Estate|
|Established||20 July 1987|
|Listed||24 July 1997|
|Listed Company Code||LPCK|
|Major Shareholders (>5%)||Kemuning Satiatama (42.20%)|
|Key Subsidiaries||Great Jakarta Inti Development
Kreasi Dunia Keluarga
Chandra Mulia Adhidharma
Tunas Pundi Bumi
Stock Quote Lippo Cikarang - LPCK:
The company’s core business involves urban development, which includes the development of real estate and industrial estate, development of both infrastructure and public facilities, provision of supporting services, and investing, either directly or indirectly through subsidiaries or joint ventures with other parties.
Starting in the early 1990s, Lippo Cikarang converted a sleeping landbank in Cikarang at the east of Jakarta (Bekasi) into a comprehensive township, complete with industrial and residential areas as well as supporting infrastructure and services. This area, where the company owns 3,000 hectares of land, became known as Lippo Cikarang. At end 2012, 2,700 hectares have been developed; about 1,000 hectares were converted into residential zones and another 1,000 hectares into industrial zones. The residential zones, having about 40,000 inhabitants, include 12,000 houses, two apartment towers, and 800 shophouses (ruko). The industrial zones include 700 light industrial companies that comply with pollution free policies.
Lippo Cikarang's industrial division remains the largest contributor to the company's growth. Due to growing foreign interest in Indonesia's industrial sector as well as a rapidly growing middle class segment and general robust macroeconomic growth of the country, land prices in Cikarang have risen considerably, which increases the company's profitability. According to the company, Lippo Cikarang has a competitive advantage over competitors, because it provides large ready-for-building estates, supported by residential and commercial conveniences.
The Lippo Cikarang area has seen a growing influx of retailers, attracted by the potential consumer boost within its township due to the growing population that is lured by employment opportunities within industrial zones and residential estates.
In line with the continued inflow of foreign companies and Indonesia's expanding middle class, demand for Lippo Cikarang's residential division has grown too. The company offers various residential lines (apartments/ condominiums, houses, and shophouses) for the elite, middle class as well as lower middle income markets of Indonesia's society.
Financial Highlights Lippo Cikarang:
in billion IDR Rupiah, unless otherwise stated
¹ in IDR Rupiah
Source: Lippo Cikarang, Annual Report 2016
Easton Commercial Centre
Jalan Gunung Panderman Kav. 05
Lippo Cikarang, Bekasi 17550
Phone: +62 21 897 2484
Fax: +62 21 897 2093