ADCP Delays Unit Handover, Management Speaks Out

PT Adhi Commuter Properti Tbk (ADCP), a property development subsidiary of PT Adhi Karya (Persero) Tbk (ADHI) focusing on Transit Oriented Development (TOD), has issued an explanation regarding delays in unit handovers. “ADCP extends its apologies to consumers for the delay in fulfilling the unit handover obligations,” management stated in a disclosure to the Indonesia Stock Exchange (BEI) on Wednesday (29/7/2026). Management acknowledged that ADCP is currently facing liquidity challenges which have impacted project completion. The TOD-based business pipeline requires the corporation to provide land around public transport stations such as the Commuter Line, LRT, and BRT, including supporting infrastructure facilities. Meanwhile, residential development is carried out in stages according to the development plan. On the other hand, the property market conditions in recent years, which have not fully recovered, have also affected product sales levels, thereby impacting cash receipts and the ability to fund project completion. As a commitment to fulfilling consumer rights, ADCP has offered several alternative solutions, including unit relocation and a temporary loan-use scheme on available ready stock units. Additionally, ADCP is exploring cooperation with strategic investors and contractors to support the acceleration of project completion so that obligations to consumers can be met in stages. To date, ADCP has 13 ongoing projects, consisting of 6 completed and operating projects (4 apartments, 1 landed housing, 1 office tower), while the remainder are still under construction. Across all projects, there are a total of 9,839 residential units. To date, 5,392 units have been sold, of which 2,575 units have been handed over to consumers. As part of its portfolio diversification strategy, ADCP is not solely reliant on residential unit sales but has also developed and operates commercial assets that generate recurring income, such as the MTH 27 office building in East Jakarta covering 12,546 square metres, as well as commercial areas in various TOD locations including Cisauk Point, Eastern Green, and MTH 27.