EMDE Expects Significant Revenue from Vivo Mall

By Editorial Team 11/09/2019
Summary

PT Megapolitan Developments Tbk (EMDE) plans to earn more recurring revenue from the construction of Vivo Mall. The project, located in Sentul, Bogor, has completed about 95 percent of the development and will soon ready to operate. EMDE management expects the mall will finish and start running at the end of this year or the beginning of next year at the very least. The company hopes the mall could significantly boost the company’s performance.

In the first half of 2019, Megapolitan Developments recorded Rp 105.52 billion in revenue, in which rent revenue contributes Rp 45.39 billion. The number is 29.87 percent bigger than last year’s rent revenue at Rp 34.95 billion. In the future, the company’s recurring revenue will be more significant when the Vivo Mall operates. “[The mall] is important in the long run. It could double the company’s recurring income,” EMDE Managing Director Ronald Trisna Wihardja told Kontan on Monday (9/9).

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