Agung Podomoro targets 13% growth next year

JAKARTA. Agung Podomoro Group has targeted its property business to grow by 13 or 14% next year, up from 11% this year.

Agung Podomoro marketing director Indra W. Antono said he was optimistic with the target due to the country’s good macro economic situation and supportive interest rate.

He also said property demand in Jakarta remained strong, while in other cities, commercial buildings demand was high.

“We allocated 35 percent of our capital expenditure of Rp 1.5 trillion (US$170 million) for our expansion program to help reach our target,” he said.

Cirebon, Pekanbaru are among the cities in Agung Podomoro’s expansion plan next year, according to him. (The Jakarta Post)