Indonesian Paradise Property Sells 149.01 Million Shares in Subsidiary to Japanese Investor
Photo: Doc. Indonesian Paradise Property

JAKARTA - PT Indonesian Paradise Property Tbk (INPP) has sold 149.01 million shares or 36.7 percent of its shares in its subsidiary, PT Narpati Arjaya Properti, to a Japanese company, Hankyu Hanshin Properties D-BWC LLC.

Reporting from the disclosure of information quoted on Thursday, January 23, Hankyu Hanshin Properties ID-BWC LLC, a company established in Japan with a registered address at Hankyu Terminal Bldg., 1-1-4, Shibata Kita-ku, Osaka 530-0012 Japan.

Before the Transaction, INPP owned 373,252,506 shares in NAP, which is 91.92 percent of the total issued and paid-up capital in NAP.

Meanwhile, the total transaction value for the sale of shares to Japanese investors reached IDR 652.65 billion. This transaction took place on January 8, 2025.

Indonesian Paradise Property Corporate Secretary Ispandiati Makmur said that the funds obtained by INPP from this transaction are planned to be used for working capital and/or INPP's business development.

"This transaction aims to improve INPP's performance amidst the tight competition in the property sector by implementing business efficiency," he said

Ispandiati also said that this transaction has no material impact on INPP's legal operations, financial condition, and business continuity.

For your information, INPP has partnered with Hankyu Hanshin Properties to develop a commercial area in the Sahid Kuta Lifestyle Resort complex, Bali. The two companies have signed a cooperation agreement to form a joint venture on January 8, 2025.

This collaboration is the first step in developing the property industry and supporting the growth of sustainable destination areas, starting in Bali.

The commercial area in question is located on Jalan Pantai Kuta, Bali, and includes five business units owned by Paradise Indonesia in the concept of mixed-use properties, namely Beachwalk Shopping Center, Hotel Sheraton Bali Kuta Resort, and Hotel Aloft Bali Kuta at Beachwalk, which are operated by Marriott International.


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