SMRA – Launches Villagio Outlet to boost recurring income

SMRA – Launches Villagio Outlet to boost recurring income Summarecon Agung (SMRA), a property issuer, is focused on increasing its recurring income. The company recently unveiled the first phase of Summarecon Villaggio Outlets in Karawang, West Java, in collaboration with The Outlet Company. With an investment of IDR500 bn, the outlet mall follows an authentic outlet concept seen in various countries. SMRA aims to strengthen its retail asset contributions, currently accounting for 27%=30% of its total income. Recurring income, derived from retail asset leasing, plays a pivotal role in SMRA's business strategy, and they plan to release additional assets to further enhance this income stream in the near future, including Summarecon Mall Bandung in 1Q24. (Source : Kontan)