Agung Podomoro Focuses on the Young Adult Property Market (Gen Y & Gen Z)

January 1, 2024

PT Agung Podomoro Land Tbk (APLN) recognizes that Generation Y and Generation Z represent a property market segment with significant potential for the future. To capitalize on the high property demand from this segment, APLN is committed to continuously developing its property projects with concepts that appeal to Generation Y and Z. One of the latest projects launched by Agung Podomoro is Kota Podomoro Tenjo, offering millennial home concept houses starting from IDR 220 million, which is affordable for Generations Y and Z.

Agung Podomoro Focuses on the Property Market for Gen Y & Gen Z

Interest in property ownership from Generations Y and Z towards Agung Podomoro is increasing. For example, Kota Podomoro Tenjo, introduced at the end of 2020, has successfully sold more than 5,000 units. Agung Podomoro plans to offer more products suitable for millennials in existing property projects, recognizing the large potential in the property market. Projects such as Podomoro Park Bandung and Podomoro Golf View will have adjusted prices to be more affordable for Generations Y and Z.

In September 2023, APLN recorded pre-sales income or marketing sales of IDR 933 billion. As such, Agung Podomoro aims to achieve marketing sales revenue of IDR 1.5 trillion by the end of the year. To reach this target, Agung Podomoro hopes to optimize existing projects like Parkland Podomoro Karawang, Kota Podomoro Tenjo, Podomoro Park Bandung, Bukit Podomoro Jakarta, The Premiere Hills Samarinda, and Borneo Bay City.

In the financial report for September 2023, Agung Podomoro Land reported sales and operational income of IDR 3.92 trillion, with comprehensive profits reaching IDR 1.35 trillion.

Housing in Kota Podomoro Tenjo

The Chief Marketing Officer of Kota Podomoro Tenjo revealed that the development of Kota Podomoro Tenjo has shown significant progress. Since its launch in 2020, the developer has successfully handed over more than 1,400 homes. With more than 5,700 units sold by early 2024, Kota Podomoro Tenjo's residential sales continue to increase. Of these, 50% were purchased by millennials, followed by 34% from Generation X, 10% from Generation Z, and 6% others.

Additionally, Agung Podomoro has released a second clubhouse in Kota Podomoro Tenjo. This facility is designed to provide residents with a space to host social or business events in an exclusive and relaxed atmosphere. As a promising property market segment, Kota Podomoro Tenjo prioritizes customer experience, demonstrating how these facilities can improve quality lifestyles for consumers. Kota Podomoro Tenjo is committed to continuously improving service standards and maintaining high customer satisfaction.

The construction of the deluxe clubhouse took place from March to December 2023. The clubhouse is equipped with various facilities, including a function hall, worship facilities, a private cinema, and an indoor lounge/games room. Additionally, the clubhouse includes a basketball court and a gym. This premium facility offers lifetime free membership to residents of the Kana, Kenanga, Kalamenta, and Kaliandra clusters.

Nevertheless, the price of houses in the deluxe cluster remains very affordable, starting from IDR 220 million. Homes with facilities of this caliber have never been available at such budget-friendly prices, especially for millennials. The Kota Podomoro Tenjo project manager mentioned that the area is already equipped with the development of Grand TOD (Grand Transit Oriented Development), a significant step in transforming the city into a sustainable center of economic, social, and cultural activities.

TOD is an urban development concept that emphasizes the efficient integration of public transportation with residential, commercial, and other public facilities. The Grand TOD in Tenjo will be integrated with a sound transportation system, allowing easy access for city residents to move from one place to another. This will not only facilitate mobility but also reduce personal car usage, alleviate traffic congestion, and decrease air pollution.

Housing in Podomoro Park Bandung

In addition to Kota Podomoro Tenjo, Podomoro Park Bandung is another focus of Agung Podomoro's property market, targeting young generations. Rising house prices each year pose a significant challenge for Generations Y and Z in buying a home. To support them in owning their dream homes, Podomoro Park Bandung, a property developer in South Bandung from Agung Podomoro Land, is currently focused on developing homes priced around IDR 800 million, aimed at the middle-class and younger population.

While Podomoro Park Bandung is overall designed for the middle-to-high class, Agung Podomoro decided at the end of the year to support Generations Y and Z in owning their dream homes, considering their purchasing power is generally under IDR 1 billion. Currently, Podomoro Park has launched its latest products, Avanya and Avega from the Patragriya cluster, providing solutions for millennials seeking ideal homes in the elite Podomoro Park Bandung area. This cluster is specifically aimed at the younger generation, especially workers in the Greater Bandung and Jakarta areas looking for their first homes.

As an ideal first home for millennials, its design combines modern elements with American Classic and Modern Tropical facades. This creates a simple yet elegant impression. The residence is designed to be compact but still comfortable and luxurious, in line with the market price trends in the Podomoro Park area, which has peaked after more than five years of establishment, spanning a total area of 130 hectares with integrated facilities.

Apartments in Podomoro Golf View

Many individuals choose apartments as their residence, particularly those located strategically near workplaces, city centers, or campuses. Choosing apartments in such locations not only saves travel time but also provides easy access to various facilities, restaurants, and entertainment venues. Moreover, owning an apartment can be considered a future investment as it has the potential to increase in value over time and become a valuable financial asset. Recognizing the promising property market segment, Podomoro Golf View (PGV) consistently emphasizes the importance of providing young, productive generations with easy access to housing, especially apartments.

The Senior Marketing Manager of Podomoro Golf View explained that PGV has provided solutions by designing Tower Ekki—an exclusive apartment with complete premium facilities available for purchase through credit payment schemes. Owning an apartment in Tower Ekki is also considered a profitable property investment for the future. Targeting the property market for young people, Tower Ekki offers easy access to transportation, an eco-friendly environment, and a one-stop living concept. Available amenities include playgrounds, swimming pools, fitness centers, and multi-purpose rooms, enabling apartment residents to enjoy a comfortable and active lifestyle within their residential area.

Currently, there are 1,800 apartment units available in Tower Ekki. Young generations can choose from three types of apartment units: Studio Type with a building size of 22 square meters, priced starting from IDR 300 million; 2 Bedroom Type with a building size of 36 square meters, sold for prices starting from IDR 500 million; and 3 Bedroom Type with a building size of 51 square meters, priced starting from IDR 900 million. As a leading property developer in Indonesia, Agung Podomoro targets the youth property market, making it easier for Generations Y and Z to own comfortable housing that meets their desires at affordable prices. If you wish to own a residence in Agung Podomoro's projects, don't hesitate to contact our marketing team for more complete information!

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