Jakarta, September 28, 2018 – PT Modernland Realty Tbk. (MDLN) held a Public Expose event at Modern Golf & Country Club, Kota Modern, Tangerang.

The event was attended by President Director William Honoris, Vice President Director Freddy Chan, and Director Dharma Mitra, who presented the Company’s performance for the first half of 2018.

The Company recorded marketing sales of IDR 2.50 trillion in the first half of 2018.

A significant contribution came from land sales worth IDR 1.15 trillion to PT Waskita Modern Realti, a joint venture with Waskita Karya Realty.

As of June 30, 2018, the Company recorded revenue of IDR 1.40 trillion, slightly lower than IDR 1.43 trillion in the same period of the previous year.

However, net profit increased to IDR 181.49 billion, driven by reduced operating and financial expenses.

Through its subsidiary PT Mitra Sindo Sukses, the Company launched its first apartment project in Jakarta Garden City, Cleon Park Apartment, which has been fully sold out.

Additionally, through PT Modern Asia Hotel, the Company conducted the ceremonial opening of Swiss-Belinn ModernCikande Banten, with its grand opening held in September 2018.

The Company remains optimistic about future performance, supported by strong housing demand in Greater Jakarta, where housing shortages remain significant.

Government policies such as Loan to Value (LTV) relaxation are expected to boost mortgage growth and improve affordability.

Despite slower growth in the industrial sector, the Company is actively preparing for opportunities in the halal industry by developing a 500-hectare integrated halal industrial cluster in ModernCikande Industrial Estate.

“This initiative positions the Company as a pioneer in Indonesia’s halal industrial sector and supports the country’s ambition to become a global halal production hub,” he concluded.