JAKARTA. PT Ciputra Development Tbk (CTRA), one of the largest property companies in Indonesia, is preparing a capital expenditure (CapEx) budget of Rp 1.5 trillion this year for a number of projects.
Aditya Ciputra Sastrawinata, Head of Investor Relations & Corporate Finance of CTRA, said the projects included 1 mall in Tangerang and 2 malls in Surabaya. "Our mall in Tangerang is planned to open in two months," said Sastrawinata as reported by Kontan.
In addition, CTRA will also use its capital expenditure budget for expanding its land banks. For this expansion, the company will use around Rp 500 billion to Rp 1 trillion.
Sastrawinata explained CTRA would use funding from various sources, starting from the company's internal cash to bank loans. "The percentage is around 50%-50%," he explained. (KR/AR)