Photography: Courtesy of PT Indonesian Paradise Property Tbk
With over twenty years of experience under its belt, PT Indonesian Paradise Property Tbk has built an acclaimed reputation as a developer. This publicly listed company has set the course with ongoing projects and a lucrative business roadmap to seize a better future and contribute more towards the industry across the archipelago.
Dubbed the leader of lifestyle development in the country, PT Indonesian Paradise Property Tbk (INPP) has inked unparalleled milestones since the company commenced its business on 19 October 2002. In correspondence with this, the theme “Shimmering Twenty” the company carried in its recent 20th-anniversary celebration has a deep meaning that represents the milestones.
“We started off with developing HARRIS Hotel Tuban-Bali in 2002, with hospitality as our business core back then. Later in 2010, we added mixed-use development to our portfolio, marked by the launch of Sahid Kuta Lifestyle Resort in Bali whose premises include Beachwalk Shopping Center. And we have branched out into high-rise residential projects since 2017,” President Director of INPP, Anthony Prabowo Susilo, recalls.
Fast forward to the present time, INPP is known for its iconic projects that have contributed to the development of the property industry in Indonesia. Among the exquisite projects other than those mentioned above are Grand Hyatt Jakarta, Keraton at The Plaza Hotel The Luxury Collection, Batam One Mall and Residence, HARRIS Suites fX Sudirman, 23 Paskal Shopping Center Bandung, 31 Sudirman Suites and Hyatt Place in Makassar, just to name a few.
Innovation and Creativity
INPP kept hitting the road even amidst the unprecedented COVID-19 pandemic, with innovation and creativity as the company’s manifestation to contributing at best to the country’s development.
“The pandemic has shifted our daily life to be less mobile. So, we need to be innovative and creative to adopt to the current condition,” Anthony remarks while referring to INPP’s exquisite mixed-use project, Antasari Place.
The company has since last year been on track with Antasari Place, which boasts two towers with the concept of “living and leisure” under the same premises. Of the total area of 2.5 hectares, this development preserves 70 percent of the greenery landscape. The facilities here include, among others, fitness center, swimming pool, retail area, school and playground.
“The construction of Antasari Place is valued at over Rp 1 trillion, and we expect to generate revenue from this mixed-use development six times more than that of Batam One Residence,” Anthony asserts.
As announced in its public expose dated 24 November 2022, INPP is estimated to register a revenue of Rp 1.05 trillion by the end of this year. The revenue realization as of the end of September was Rp 540.5 billion, higher than the previous year at Rp 427.67 billion. As for the net profit, the company recorded a figure of Rp 48 billion in Q3 and estimated the number to reach Rp 156.5 billion. Meanwhile, the company’s equity stood at Rp 5.72 trillion as of the end of September, with the estimation reaching Rp 5.84 trillion by the end of this year, an increase compared to the equity booked at the end of 2021 with Rp 5.71 trillion.
The sustainable performance of INPP also comes from its subsidiaries, such as PT Aneka Bina Laras, PT Dinamika Putra Perkasa. PT Eka Ilalang Suryadinamika, PT Indonesian Paradise Island and PT Retzan Indonusa.
With more projects on its roadmap, INPP is playing a pivotal role in employing more locals and contributing to communities surrounding the company’s projects.
INPP has built a twenty-year shimmer portfolio. Looking forward, at least for the coming 2023, the company is set to develop six residential developments in the country’s major big cities: 23 Paskal Extension in Bandung, Sahid Kuta Lifestyle Resort, Antasari Place in Semarang, Hyatt Place Makasar, a mixed-use project in Semarang, and residential and commercial development in Balikpapan.
As a developer, INPP views the importance of design from various aspects. Besides the aesthetic and creative elements, INPP puts human-centered design (HCD) that incorporates local wisdom values.
“This is INPP’s consumer-oriented approach tailored according to the needs, customs and capabilities of our consumers, so as to provide them with the comfort of what the lifestyle destinations have to offer,” Anthony asserts.
Blending the elements of aesthetics and function of design with local wisdom in every development of the company is crucial to produce an iconic lifestyle property product. “That’s what makes us different from other developers,” he concludes.