CTRA – Aims for 50% yoy residential sales growth in 2023

Ciputra Development (CTRA), through its subsidiary Ciputra Residence, is targeting sales growth in the residential segment up to 50% yoy in 2023. The plan in 2023 is that the company will launch 2 to 3 new projects, namely Citra Garden Serpong, Citra City Sentul, and one more project is planned to be implemented in Medan. The company also projects that the company's marketing sales will reach IDR8.9 tn in 2023. For 2023, CTRA has allocated IDR1 tn which will be used as capital expenditure by the company which is planned to be used as many as IDR500 bn for project development and IDR500 bn will be used to increase the company's land bank. (Source : Kontan)