Bumi Upaya Griya (“BUG”) is one of a few real estate developers who survive the heat of 1997 economic crisis. The company was established in April 1978 and started its operations in 1984. BUG’s first project was called “Pamulang Permai I”, comprising around 2000 unit of affordable residential houses located in South Jakarta.
This was one of the first residential projects built on a concept of creating an integrated medium class residential and commercial area. In just one and a half years, BUG successfully built and sold 1,980 houses; and generated total revenue of IDR 30 billion (equivalent to US$ 21.2 million). Continuing this remarkable achievement, the company initiated the second stage called “Pamulang Permai II”. Upon completion of both projects in 1997, BUG had built and sold 6,000 houses on 150 ha plot of land. With these projects, the company booked total revenue of about IDR 180 billion (equivalent to US$ 90 million).
Other than Pamulang projects, the company developed 100 ha residential complex called Kranggan Permai. Approximately 5,000 units were built based on a concept of comfortable livings
In 2005, the project was completed and contributed total revenue of IDR 200 billion (equivalent to US$ 80 million at US$1=IDR 2,500). To date there are approximately 20,000 people living in this area.
Bogor Raya Permai is BUG’s ongoing project. This project, which was initiated back in 1992, covers a total area of 60 ha and is located in Bogor 3 . The first development stage of 30 ha (mostly residential areas) was completed in 2003. The following stage of 15 ha was initiated in 2002. Until 4th quarter 2007, at least 14 ha of this second stage have already been developed.
Since its establishment, the company has obtained numerous recognitions from various institutions. These appreciations reflect strong commitments of BUG’s stakeholders on quality, prudence, and professionalism. Looking forward, BUG endeavors to become one of top ten property developers in Indonesia.