Bekasi Fajar has booked marketing sales of Rp 210bn

BEST booked Rp210bn marketing sales as of February facilitated by Marubeni

Bekasi Fajar has booked marketing sales of Rp210bn or 13 ha as of February 2013 where 85% was facilitated by Marubeni, who acted as an agent. Most of the buyers are Japanese companies, and the ASP is around USD169/sqm or Rp1.62mn/sqm, which increased by 10.5% yoy. (Investor Daily)

Comments: Acting as an agent to bring strategic and anchor tenants from Japan, Marubeni in our view is a great channel of tenants for BEST. Marubeni’s strong reputation in Japan will no doubt help promote BEST to the many different Japanese companies, especially when foreign investments is flowing rapidly into Indonesia. For FY13, BEST targets an ASP of USD167/sqm and land sales of 110 ha.