28 August 2018

CTRA Will Launch Five New Projects

Ciputra Group, through PT Ciputra Development Tbk, will launch five new projects by the end of 2018. The five projects are, CitraLand City Jakarta in Pulo Gadung, East Jakarta. They collaborated with Gama Land Group to develop 17 tower apartments on an area of ​​14 hectares. Ciputra Development Director and Corporate Secretary Tulus Santoso said that CitraLand City Jakarta was for the lower middle class.

“Because this class still survives, despite the sluggish economic conditions caused by the uncontrolled Rupiah. The lower middle market is still good,” said Tulus, Friday (08/24/2018 ).

Tulus revealed that the price of CitraLand City Jakarta apartment is around Rp. 400 million, with sales expectations of around Rp. 400 billion. Next is CitraLand Bagya City Medan Phase II, in Medan. In this project, Ciputra Development also cooperated with Gama Land Group. The third project is located in Ciracas, East Jakarta. Although it will be reported in the fourth quarter of 2018, but the middle to lower apartment projects with a starting price of Rp 400 million for this 25 square meter studio type have not been named.

“Same as in Pulo Gadung, we are aiming for this project to contribute sales of Rp. 400 billion,” Tulus said.

While the fourth project is in the Sentul area, Bogor, titled Citra Circuit Sentul Residence on an area of ​​100 hectares. It includes landed houses, apartments and commercial centers. According to Tulus, the residential price at Citra Sirkuit Residence starts from Rp. 800 million.

The last project was Newton 2 in the development area of ​​Ciputra World 2 Jakarta. Director of Ciputra Development Artadinata Djangkar said, Newton 2 will be released in the fourth quarter of 2018.

“The price is higher than Newton I, which is around Rp. 1 billion for the cheapest unit,” said Arta. Optimistic with the launch of the five projects, Ciputra Development is optimistic that this year’s sales target of Rp 7.7 trillion can be achieved. Although the realization until June has only reached Rp3.3 trillion. Sincerely acknowledging the current condition is indeed heavy, everything is uncertain, following the Rupiah that has not been controlled.

“Even though the interest rate is raised, but the Rupiah continues to decline, Rp. 14,600 per US dollar, this is beyond tolerance. But, hopefully, until the end of the year we can print positive sales. After August, we hope things will get better,” Tulus finished his statements.

(Text quoted from www.kompas.com, photo illustration by the CTRA team)

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