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Modernland Realty Announces Sustainability Focus Following AGM
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New leadership and strategic direction prioritize environmental and social obligation.
JAKARTA – PT Modernland Realty Tbk is placing sustainability at the forefront of its operations, following its Annual General Meeting of Shareholders (AGM). The company reported first-quarter marketing sales of Rp 484 billion in 2025, a 54% year-over-year increase, and aims to launch new residential products, accelerate construction, and monetize assets with a focus on sustainability.
According to Director of PT Modernland Realty Tbk, Dharma Mitra, the company will launch a social program themed “Becoming an Environmentally Friendly & B2G Unemployment Recovery” as part of its ongoing ESG (Environmental, Social, and Governance) initiatives. The company will also form ESG and OHS (Occupational Health and Safety) committees.
“The implementation of this ESG is not only interpreted as compliance with international standards, but also as a moral commitment of the company in running a buisness that is ethical, inclusive, and environmental insight. The main foundation of this initiative is the work document of the Habitat and Social Action Plan (ESAP) which has been compiled as an operational strategic guide for the next few years,” said Dharma Mitra, in a written statement on Saturday (May 24, 2025).
The announcement was made at the AGM held at the Jakarta Garden city Club House, Jakarta, on Friday (May 23, 2025).
The Board of Commissioners of the Jakarta Garden City developer has committed to a new strategic direction emphasizing sustainable development.Shareholders approved the resignation of Luntung Honoris, Edwyn Lim, and Nita Tanawidjaja from the Board. Dharma Mitra was appointed as the President Commissioner, along with herman, Yustinus Saleh, and Robert Tumedia as Commissioners. Sami veikko Tapio Miettinen joined the Board of Directors as a new director. The AGM also approved the reappointment of Tanubrata Public Accounting Firm Sutanto Fahmi Bambang & Partners as self-reliant auditors for the fiscal year 2025.
President Director of PT modernland Realty Tbk, William Honoris, reported business revenue of Rp 1.02 trillion in 2024, an 11.69% year-over-year decrease. Though, the company reduced its foreign bond burden by USD104.3 million through a Buyback and Exchange Offer scheme.
Director of PT Modernland Realty Tbk,Pascall Wilson,stated that marketing sales in 2024 reached Rp 1.10 trillion, driven by the residential sector, especially the Jakarta Garden City project. The ModernCikande Industrial Estate showed steady growth, and the hospitality sector is showing signs of recovery.
New Board Appointments
The AGM resulted in the following board appointments:
“the implementation of this ESG is not only interpreted as compliance with international standards, but also as a moral commitment of the company.”
Board of Commissioners
- President Commissioner: Dharma Mitra
- Commissioner: Herman
- Commissioner: Yustinus Saleh
- Independent Commissioner: Iwan Suryawijaya
- Independent Commissioner: Robert Tumedia
Board of Directors
- President Director: William Honoris
- Director: Fetrizal bobby Heryunda
- director: Pascall Wilson
- Director: Sami Veikko Tapio Miettinen
Frequently Asked Questions
What is ESG?
ESG stands for Environmental, Social, and Governance, representing standards for a company’s behavior used by socially conscious investors.
What are Modernland Realty’s plans for sustainability?
Modernland Realty plans to launch residential products,accelerate construction,and monetize assets with a focus on sustainability,along with a social program and ESG/OHS committees.
Who are the key people in the new Board of Commissioners?
The new President Commissioner is Dharma Mitra, and other commissioners include Herman, Yustinus saleh, and Robert Tumedia.
