Ciputra (CTRA) Targets Marketing Sales of IDR 11.1 Trillion This Year

CORPORATE STRATEGIC - JAKARTA. PT Ciputra Development Tbk (CTRA) is targeting marketing sales or pre-sales revenue of IDR 11.1 trillion in 2024.

CTRA Director Harun Hajadi said this marketing sales target is in line with the promising property sales prospects, especially residential products.

CTRA is still optimistic that its residential product sales will be good throughout 2024.

However, Harun said the property prospects still depend on whether the interest rate rises or not, and healthy economic growth until the smooth running of the elections until the inauguration.

"If the interest rate does not rise, and the economic growth is also real, then of course the property will grow along with it," Harun told KONTAN, Sunday (18/3).

For comparison, CTRA recorded record marketing sales throughout 2023 amounting to IDR 10.2 trillion.

This achievement is the highest ever and successfully exceeded the company's previous target which was at IDR 9.8 trillion.

If calculated, marketing sales in 2023 increased by 24% on a year-on-year (YoY) basis and reached 105% of the target.

The residential segment also recorded positive achievements by continuously contributing to marketing sales of Ciputra by 80% and solid growth of 26% annually.

In achieving this sales target, CTRA will also prepare its new projects.

However, Harun has not yet informed us what project will be launched. For sure, there will be new housing projects being developed.

Meanwhile, according to KONTAN's records, CTRA currently has a land bank of 2,247 hectares divided into two types, those recorded in the books and those involving cooperation. 95% of this land bank is used for the development of residential houses.