JAKARTA (Yosefardi) – Ciputra Group alloctes its capital expenditure (capex) of Rp1.5 trillion for next year, 25% decline compared to this year’s capex of Rp2 trillion, Investor Daily reported this morning.
Some factors such as unconducive domestic economy and slowdown in property business, coupled with the government’s new policies not in favor for property industry, prompt the group to scale down its investment next year.
The group had completed its megaproject Ciputra World Jakarta I. The group targets to work on 30 projects next year and acquire lands. The projects are mostly landed house while acquisition will get budget of Rp500 billion.
As of September 2013, Ciputra Group booked marketing sales of Rp7.4 trillion, representing 74% of this year’s target of Rp10 trillion. While consolidated revenue totaled Rp3.8 trillion in first nine months of this year, a 72% rise compared to Rp2.2 trillion in the same period of last year.