Targeting IDR 7.81 Trillion Full Year, Property Company Owned By The Late Conglomerate Ciputra Raises Pre-Sales Of IDR 4 Trillion In Semester I 2022

Photo: Doc. Ciputra Development

JAKARTA - Property development company, PT Ciputra Development Tbk (CTRA) posted pre-sales reaching IDR 4 trillion in the first semester of 2022. This achievement is equivalent to 51 percent of the target for 2022 which is set at IDR 7.81 trillion.

Ciputra Group CEO Candra Ciputra explained, Ciputra Development's achievement increased from the previous year in the same period which only reached 3.56 trillion. Meanwhile, the achievement of nearly IDR 4 trillion this year is IDR 2.2 trillion from the joint operation project and IDR 1.78 trillion from the project itself.

"Our growth strategy is to maintain a large enough land area and geographical location to support product diversification and use the Ciputra brand in conducting KSOs (cooperation operations) and managing capital prudently and launching innovative products to increase the portion of recurring income," said Candra in a public presentation, Wednesday, July 27.

Based on the method of payment, Ciputra Development pocketed the majority of pre-sales from mortgages of 58 percent, cash with installments of 21 percent, and cash 21 percent. Meanwhile, based on segmentation, houses with prices in the range of IDR 2 billion - IDR 5 billion accounted for the largest portion of 38 percent, followed by the IDR 1 billion - IDR 2 billion segment with 28 percent, below 1 billion 20 percent and above IDR 5 billion 15 percent.

"In terms of products, the biggest ones are still houses, lots and land as much as 78 percent, shop houses 16 percent, apartments 5 percent, and offices, strata title, and the remaining 1 percent," said Candra.

Meanwhile, the favorite locations are spread throughout Indonesia with a share in Greater Jakarta 25 percent, Surabaya 20 percent, other cities in Java 13 percent, Sumatra 20 percent, Sulawesi 18 percent, and the rest in other cities 1 percent.

This year, Ciputra Development is preparing a number of projects, including those in Medan Citra Land, Tanjung Morawa, which is expected to launch in the third quarter of 2022. Followed by Citra Land Sampali in the fourth quarter of 2022.

Meanwhile, the projects that are prioritized this year are Citraland Surabaya, Citraland Gama city Medan, CitraLand City Losari Makassar, Citra Garden City in West Jakarta, Citra Raya Tangerang, Citra Land Tallasa City Makassar, Citra Maja Raya, Citra Grand Semarang, CitraLand Megah Batam, Citra Land Green Lake Surabaya.