Forbes Indonesia — August 2017

AUGUST 2017 FORBES INDONESIA | 35

68

70

69

74

71
72
73

“PROPERTY IS STILL

A GOOD BUSINESS.

SO CLEARLY, WE WILL

STAY IN A BUSINESS

THAT WE SEE A

BRIGHT FUTURE,”

approximately 76 projects over that

time, such as housing, apartments,

shopping centers, hotels, golf cours-

es, hospitals and offices spread over

more than 33 major cities. Aside

from residential and retail, the com-

pany now also develops strata title

apartments and offices. Its leasing

services include shopping centers,

hotels, apartments, offices, golf

courses and water parks.

Revenue comes from two

sources: 25% from recurring rev-

enue such as hotels, apartments,

offices and malls; and 75% from

residential sales. This year, Candra

looks to have his firm get Rp 7 tril-

lion from marketing sales (about

the same as last year).

With such a large dependence

on marketing sales, the swings of

the property cycle have a major

impact on the firm. Thankfully,

despite an overall soft market, the

firm has a strong portfolio of new

projects it can release on the mar-

ket. Ciputra Development booked

Rp 2.7 trillion of presales to May

this year, according to Bahana Se-

curitas analyst Renaldy Effendy.

The solid presales came from

existing projects while the new

launches in Cibubur and Makassar

contributed around 30% of pre-

sales. However, Renaldy cautions

that Ciputra Development remains

vulnerable to a delayed property

recovery and weak takeup on new

launches.

This year, the company is re-

leasing six new projects out of

76 in its pipeline, in Bali, Batam,

Cibubur, Jakarta and Makassar.

Last May, it released two residen-

tial projects: Citraland Cibubur

(generating presales of around Rp

120 billion) and Citraland Talassa

City Makassar (generating around

Rp 200 billion of presales). The

remaining presales were derived

from existing projects such as Cit-

raland Surabaya (Rp 110 billion),

Makassar Losari (Rp 160 billion),

and Maja (Rp 130 billion).

Four more projects will be

released this year: Citra Plaza

Batam; Sadana, a beach resort in

Bali; and two projects that expand

Ciputra World 2: the Newton 2

and the Suites Apartment. Tu-

27. CitraLand Puri Serang


28. Somerset Grand Citra
    Jakarta


29. The Newton CWJ
    Jakarta 2


30. CitraGrand City
    Jakarta


31. CitraTowers
    Kemayoran Jakarta


32. CitraGarden (BMW)
    Cilegon


33. CitraMaja Raya
    Banten


34. Ciputra Mall & Hotel
    Jakarta


35. Ascott Service
    Residence


36. CitraLake Suites
    Jakarta


37. CitraDream Bintaro


38. Ciputra Hospital
    Ta n g e ra n g


39. DIPO Business Center
    40. Ciputra International
    Jakarta
    41. CitraLake Sawangan
    Depok
    42. CitraRaya Tangerang
    43. CitraDream Hotel
    Bandung
    44. CitraGreen Dago
    Bandung
    45. CitraDream Hotel
    Serpong
    46. CitraLand Cirebon
    47. CitraDream Hotel
    Cirebon
    48. CitraLand Tegal
    49. CitraGarden
    Pekalongan
    50. CitraLand (BSB) City
    Semarang
    51. CitraGrand Semarang
    52. CitraSun Garden
    Semarang
    53. Ciputra Mall & Hotel
    Semarang
    54. CitraSun Garden
    Yo g ya k a r t a
    55. CitraGrand Mutiara
    Yo g ya k a r t a
    56. CitraDream Hotel
    Yo g ya k a r t a
    57. Ciputra World
    Surabaya
    58. CitraLand Surabaya
    59. The Taman Dayu
    Pandaan
    60. CitraLand The Green
    Lake Surabaya
    61. Ciputra Golf Surabaya
    62. CitraGarden City
    Malang
    63. CitraHarmoni
    Sidoarjo
    64. CitraGarden Sidoarjo
    65. CitraIndah Sidoarjo
    66. CitraLand Denpasar
    67. Ciputra Beach Resort
    Bali
    68. CitraLand Palu
    69. CitraLand Kendari
    70. CitraGarden Makassar
    71. CitraLand Celebes
    Makassar
    72. CitraGarden Makassar
    73. CitraLand City Losari
    Makassar
    74. CitraGrand Galesong
    City Gowa
    75. Ciputra Hanoi
    International City
    76. Grand Phnom Penh
    International City
    77. Grand Shenyang
    International City

Existing residential

project

Existing commercial

property

New residential

project

New commercial

property

75

Vietnam

76

Kamboja

77

China