PT Megapolitan Developments Tbk (EMDE) this year targets pre-sales revenue growth of around 30-50% compared to last year's Rp78.54 billion.

The 2020 annual report published Wednesday (30/6) revealed that the pre-sales revenue last year decreased by around 26.95% from the previous year, recorded at Rp107.52 trillion.

The reason is the sluggish property industry in Indonesia related to the national policy in PSBB due to the COVID-19 outbreak, thereby reducing economic activity and decreasing people's purchasing power.

The company sees net profit to grow only moderately at around 5-15%, considering the impact of the implementation of PSAK 72 and project progress where the majority of deliveries for pre-sale products will not be handed over last year.

Also, the impact of COVID-19 on the economy and business has not yet been fully determined. The government's policy in the form of large-scale social restriction hit the property sector,