CTRA - PT. Ciputra Development Tbk

Rp 1.180

-5 (-0,42%)

JAKARTA – Given current global condition, Management of PT Ciputra Development Tbk proposes a stable performance outlook for 2016, however several external factors, according to Candra Ciputra, managing director of the company, can still impact the yearly outcome.

Given the current economy, “China is actually the biggest factor now… the US interest rate depends so much on China.” Candra explained the global economy impacts the Indonesian property market, after the company’s shareholder meeting in Central Jakarta.

Local policy will also impact the property market, as President of Indonesia, Jokowi pushes for tax amnesty.

“Tax amnesty is coming in a couple of months, it will have a big effect. There will be a flow influx of money that will (encourage people to) buy property,” Candra added.

As of the moment, Ciputra Development along with its subsidiaries plan on launching around ten projects this year – mostly comprised of residential complexes - rolling out a capex of around 1 trillion for 2016.

Since 2013, most buyers tend to purchase property under the Rp2 billion, which is why the company aims at the lower end of the middle income segment. (CH)