GREATER JAKARTA, Indonesia--(BUSINESS WIRE)--PT Pollux Properti Indonesia’s Chief Executive Officer, Dr. Nico Po, brought home the prestigious Grand Property Award at the 14th Indonesia Property and Bank Award (IPBA) 2019 organized by Property&Bank magazine, and named as the “CEO of The Year 2019” at the event held in Intercontinental Hotel Ballroom in Jakarta on Thursday, Sep. 26.
His outstanding achievement is backed by the astonishing performance of his company, the publicly listed property developer PT Pollux Properti Indonesia Tbk. (POLL:IJ), which has recorded some US$3.8 Billion of market capitalization as of this month. With such a performance, Pollux Properti has become one of the fastest growing developer companies thanks to its various portfolios across the country.
Shortly after Pollux Properti conducted an Initial Public Offering (IPO) last year, the company took a leapfrog by launching several iconic projects at numerous locations in Indonesia. The projects’ development has been smoothly progressing in accordance to the company’s plan.
Pollux Properti is constructing a mega-superblock called Meisterstadt in Batam, Riau Islands. The mixed-use property is a collaboration project with the late former president BJ. Habibie’s family under the auspices of PT Pollux Barelang Megasuperblock. In an area of 9 hectare, the superblock will comprise 11 skyscrapers within it, of which 8 residential towers consisting some 6,500 apartment units, a 5-star hotel, an international-standard hospital, a shopping mall, and a 100-floors office tower will be built.
The company plan to invest up to US$1 Billion for the development of the Batam’s mega project. The handover of the four completed towers is targeted to be gradually done by the end of this year. “Meisterstadt Batam was built to create a commercial area with an international standard that can support activities related to the Asia’s free-trade zone in Batam,” Nico said recently.
Besides the ambitious mega-project in Batam, Nico Po with his company is now developing another superblock project in Cikarang, West Java under the auspices of PT Pollux Aditama Kencana in a collaboration with Virginia Properti Group. The Chadstone Cikarang, what the project is called, is located at the exit toll of West Cikarang Km 28 and alongside the main road connecting Cikarang and Cibarusah.
Similar to the superblock the company built in Batam, this project is developed in a “6 in 1 integrated development” concept. When completed, it will have a 4+ star hotel operating 178 rooms, 4 apartment tower of 45-stories each, a 24-hour food and beverage outlets, a 144 units SOHO, a shopping Mall, and a hospital. The planned superblock will be the highest landmark and the biggest superblock in West Java with a total of gross floor area at more than 300.000 square meters when it is completed.
In addition to the two ongoing projects, Nico Po through PT Pollux Kemang Superblok is also developing another mixed-use property called the Gangnam District. Located in downtown Bekasi, the project is constructed on an area of 2,5 hectare. The US$150 million project will have 8 apartment towers equipped with exclusive facilities in them such as waterpark, infinity pool, sky terrace, smart-home system, access card to name a few.
With such various projects going on, Pollux Properti is on the right track to strengthen its grip in the property market. As of this month, the market capitalization of Pollux Properti has reached US$3.8 Billion making it on the top of the list among other property developers that have been listed in IDX even for a long time.
Since the beginning of listing, the company has recorded a significant growth of stock value by 879,67% to Rp6.525 per share. This significant increase is due to an improvement of the companies’ performance. During the first half of this year, the company’s gross profit has increased by 197,29% year-on-year. Its net profit has also been increased by 200,5% from which property sales, especially residential units or apartments, is the biggest contributor. Sales of residential units account for 93,34% of the total revenue in the first half of this year. Next year, the company would be able to start enjoying recurring income from its completed Investment properties.
An inspiring leader
According to the Property&Bank magazine’s Editor in Chief, Indra Utama, Nico Po is an example of a young-professional with a strong and amazing talent in management. At such an age, Nico has successfully managed a property business and developed large scale projects.
“Whatever Nico Po has accomplished can be an example to other young-professionals out there. The “CEO of The Year” award we gave this year is suitable for him, viewing the performance of the company he is leading now. I hope that this can be an inspiration to other young professionals,” Indra said.
According to Indra, there are some key factors and takeaways represented by the awardees in this year’s IPBA. Not only are they inspiring millennials, individuals that deserves the award were those who have become a role model for their surroundings, and those who gave contributions into technology and transportation sectors. Moreover, the annual award made prestigious by not only such accomplishments from the recipients, but also the attendance of famous decision and policy makers in Indonesia.