PT Ciputra Development Tbk (“the Company”) recorded total marketing sales of Rp6.1 trillion in 2019, representing a 4% year-on-year decline and achieving 102% of the Rp6.0 trillion guidance. Despite the relatively quiet period in the first semester amidst the presidential election, the Company significantly increased launches in the second semester and saw a robust 55% semester-on-semester growth in marketing sales.
2019 marked the first year since 2013 in which the Company’s organic marketing sales, which excludes en bloc sales, posted a growth at 6% year-on-year. The Company attributes this achievement to the successful implementation of the Company’s strategy to serve the end-user demand of mid-to-low income households in strategic locations with unique value propositions.
In 2019, the Company launched 3 new projects and several new clusters or towers within 15 existing projects. The Company accumulated Rp3.2 trillion marketing sales from these launches, equivalent to 53% of total 2019 marketing sales and maintains a stable balance between sales of new units and existing stock. Below is the highlight of some of the Company’s 2019 key projects:
CitraGarden Puri Jakarta
Being one of the Company’s new projects, the launch of CitraGarden Puri Jakarta received positive responses from the market. Offering a scarce blend of affordable housing below Rp1.8 billion in proximity to a commuter line station while still located within Jakarta city, 600 units of houses in CitraGarden Puri Jakarta were sold within only one day.
CitraLand Driyorejo CBD
The Company leveraged the post-presidential election momentum by launching a new project in Greater Surabaya area named CitraLand Driyorejo CBD with a total offering of 412 unit houses and 165 unit shop houses. Given its proximity to Surabaya-Mojokerto toll road, CitraLand Driyorejo CBD embodies the Company’s strategy in providing living concept that relies on affordability and accessibility.
Citra Sentul Raya
Citra Sentul Raya is the Company’s latest township development that offers proximity to infrastructure access to Jagorawi toll road and LRT station as key selling point. In 2019, Citra Sentul Raya launched 3 residential clusters at an affordable price starting from Rp600 million per unit.
CitraLand Surabaya continued to be one of the main contributors of the Company’s marketing sales through its success in selling inventory units as well as new product launches. The 2019 best-selling product of CitraLand Surabaya was the new landed residential cluster named Northwest Park that was sold at an affordable average price of Rp1.3 billion per unit.
Citra Maja Raya
First launched in a few years ago, Citra Maja Raya continues to develop new products to meet the demand of affordable housing among low-middle-income consumers. In 2019, Citra Maja Raya sold a total of 2,000 units through the launches of 1 commercial shop house clusters and 4 residential clusters with selling price as low as Rp120 million per unit.
Being one of the Company’s flagship projects, CitraRaya Tangerang fine-tuned its product portfolio to cater the high demand of affordable housing through the launch of new cluster with selling price starting from Rp550 million per unit. In addition, CitraRaya Tangerang also relied on the new commercial shop house cluster and the sale of inventory stocks to become one of the Company’s top marketing sales contributors.
CitraLand City Losari Makassar
Nearing the end of 2019, the Company’s first reclamation project launched a new apartment, Delft Apartment, with prices ranging from Rp550 million for a studio to Rp1.8 billion for a three-bedroom unit. The launching gained positive result with a take-up rate of 61% out of 787 units offered. The apartment is mainly aimed towards university student rentals as it will be located directly across Ciputra University.
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