JAKARTA (Yosefardi) – Property developer PT Ciputra Development Tbk (CTRA) allocates capital expenditure (capex) of Rp1-1.5 trillion for this year.

The company allocates Rp500 billion for acquiring land in Jakarta and Surabaya areas. It also seeks partners to expand into outside Java island.

CTRA expects to book marketing sales of Rp10 trillion this year, a 8.7% growth compared to Rp9.2 trillion last year.