PT SUMMARECON AGUNG TBK: THE CONSTANT PURSUIT OF PERFECTION
The case is about PT Summarecon Agung Tbk (SMRA), one of the successful property developers in Indonesia. Throughout its journey, SMRA has undergone a differentiation strategy for its business model, starting with developing a remote area in the eastern fringe of Jakarta and successfully transforming it into a bustling neighbourhood. SMRA has undergone “the constant pursuit of perfection”, starting from the beginning of its existence. The company is an expert in discovering ‘hidden gems’, refining them into perfection and transforming them into marketable accommodation.
With the property segments now heavily fragmented, tougher competition and the scarcity of land banks, SMRA needs to diversify its products and look for new ideas for its next ‘hidden gems’. The case is about how SMRA’s leader, Mr Herman Nagaria is exploring the idea of introducing the condo villa concept as a new product as its next hidden gem.