JAKARTA (Yosefardi) – Property developer PT Ciputra Development Tbk (CTRA) plans to invest Rp2-4 trillion on 20 new property projects within next 10 years.
The projects on pipeline, mostly housing segment, will be developed next year. For 2015, CTRA allocates capital expenditure (capex) of Rp1.5 trillion, used to fund land acquisition and 6 property projects carried over from this year.
CTRA earlier targeted to work on 12 projects this year but it only runs 6 projects. The company then targets to book marketing sales of Rp9.2 trillion for this year, lower than initial target of Rp10 trillion.