Signing Cooperation Agreement, Alfaland Group and TRUE Land (IDX: TRUE) Will Develop Area in Karawang

Tangerang, 21 June 2023. Alfaland Group signed a collaboration with PT Perkasa Internusa Mandiri or better known as PT Triniti Dinamik Tbk (TRUE Land) on Wednesday, 21 June 2023 in Jakarta. Through the signing of this Cooperation Agreement, both parties will collaborate in developing the newest area in Karawang, Java West. Hanto Djoko Susanto, President Director of Alfaland Group said, "Great leaders inspire greatness in others. The Alfaland Group is committed to bringing a positive impact to Indonesia. Together with Alfalanders, we are determined to achieve every target with a positive and respectful work environment.“ Hanto also hopes that the collaboration between Alfaland Group and TRUE Land can create strong synergies, and can combine the expertise and resources of both parties to achieve mutual success in developing property projects that interesting and profitable and also creates a strong collaboration between Alfaland Group and TRUE Land. Alfaland Group also hopes to build long-term relationships based on trust, integrity and shared values, so that it can deliver inspiring property projects and achieve extraordinary results.

In this cooperation agreement, both parties will develop approximately 27 hectares of land in the Karawang area, West Java. Later, the land will be developed into residential land such as residences and shop houses and commercial land such as office houses that are innovative and modern but also prioritize sustainable values. Alfaland will provide the land in the Karawang area, while TRUE Land will play a role in developing the land. Implementation of the project will be carried out immediately after signing Cooperation agreement between the two parties with a time period until the completion of the project.

Bong Chandra, Director of PT Triniti Dinamik Tbk said, "After the pandemic, TRUE Land took the initiative to focus on a new Business Model by developing Landed Development from the previous Highrise Development. We are optimistic that the newest project that will be developed together with the Alfaland Group will become an iconic project in Karawang, West Java.

About Alfaland Group
Alfaland Group is a property development company that was founded in 1999, starting with Lodan Center which is an office and industrial area in Lodan Ancol measuring 10 Ha, followed by The Plaza Milenium Medan which was founded in 2000. In its journey Alfaland developed the property development business (developer) and the planning and supervision services business (construction management) as well as the hospitality sector in the form of hotel management with a concept that prioritizes innovation and technology as well as harmony. Alfaland Group has grown by developing various projects such as Lodan Center, Griya Hijau Regency, Grand Bima Mansion and Martadinata Point. Apart from that, Alfaland Group is also the operator of several hotels under the Omega Hotel Management banner.

About TRUE Land
PT Triniti Dinamik Tbk. is a property developer that has been established since 2014. TRUE Land has developed two innovative high rise projects, namely Springwood Residence located in Tangerang and also The Smith, an apartment and office project also located in Alam Sutera, Tangerang. With the stock code TRUE, PT Triniti Dinamik Tbk began to spread its wings by listing on the Indonesia Stock Exchange on June 10 2021. Through this registration, TRUE Land is committed to carrying out future development by collaborating with various parties to develop innovative, cutting-edge projects and based on sustainable principles.
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