Property developers saw plunging profits in Q1
Bareksa • 06 May 2014
Sebuah proyek bangunan bertingkat dalam proses pengerjaan di kawasan Kuningan (ANTARA FOTO/Fanny Octavianus)
Property developers showed mixed results in the first quarter of the year
The Jakarta Post - Property developers showed mixed results in the first quarter of the year, from modest growth to plunging profits, as a result of regulatory tightening, including new loan-to-value (LTV) ratios and higher interest rates.
Bumi Serpong Damai (BSD), one of the country’s largest developers, saw its profit slashed by more than half year-on-year (y-o-y) during the first three months of the year, from Rp 1.3 trillion (US$112.84 million) in the January to March period last year to Rp 536.32 billion this year