Property developer Bumi Serpong Damai (BSDE), member of Sinarmas Land Group, targets its recurring income to contribute 25% revenue within the next five years. BSDE plans to acquire and build office towers and new shopping malls. BSDE’s current recurring income contributes 17-20% revenues. It started the year with acquisition of 13 floors of office tower at Bakrie Tower for around US$36 million. This is the second acquisition by BSDE in three months because late last year it purchased Sinarmas MSIG Tower (68,525 sqm of NLA) for Rp954 billion.To subscribe please click here
