Diamond Citra Propertindo Expands into Landed Housing Segment

Strategic Acquisition Diversifies Portfolio

PT Diamond Citra Propertindo Tbk (DADA) has made a significant move into the landed housing segment through its controlling shareholder, PT Karya Permata Inovasi Indonesia Tbk (KPII). The acquisition of 99.9% stake in PT Pejaten Kreasi Sukses Indonesia (PKSI) was completed at a transaction value of Rp174.8 billion. This strategic acquisition marks DADA's tactical shift to capture opportunities in Jakarta's satellite areas.

Business Diversification Strategy

Historically known for its strength in high-rise properties and strata title developments, DADA's business structure has now become more diversified with the inclusion of PKSI. The company's management sees this as a medium-term strategy to manage capital more effectively. Director and CEO Bayu Setiawan explained that this move is part of their measured approach to capital management and business expansion.

Market Implications

The acquisition represents a significant diversification for DADA, allowing the company to tap into the landed housing market which presents different dynamics compared to high-rise developments. This move is expected to enhance the company's market position in the Indonesian property sector.