Ciputra Development’s Marketing Sales Achievement in 2021 Exceeds Target
PT Ciputra Development Tbk (“the Company”) booked marketing sales of Rp7.4 trillion in 2021, representing a 35% year-on-year increase and achieved 127% of the Rp5.9 trillion guidance. Despite ongoing pandemic headwinds, CTRA’s achievement surpassed the pre-Covid-19 level of Rp6.1 trillion in 2019.
The achievement was mainly supported by the government’s VAT exemption program that propelled sales of existing stock and the launches of new projects. The VAT exemption program contributed 27% to the total marketing sales. Additionally, CTRA launched 3 new projects and 14 clusters within existing projects. In terms of product segment, landed residential remained in demand and accounted for 82% of total marketing sales with 22% year-on-year growth.
Below is the highlight of the Company’s key projects in 2021:
CitraLand Gama City Medan
Continuing the positive momentum in 2020, CitraLand Gama City Medan remained the biggest marketing sales contributor in 2021 with total achievement of Rp900 billion. CitraLand Gama City Medan launched a new residential cluster named Clarke Quay with selling prices starting from Rp3.1 billion. Going forward, the Company plans to further develop Clarke Quay cluster to fulfill the high demand for exclusive residential area for the middle-to-high income bracket in Medan.
CitraLand Kota Deli Megapolitan Helvetia
CitraLand Kota Deli Megapolitan Helvetia is a new landed residential project in Medan, North Sumatra that spans across a 7-hectare site. The project is part of a large-scale multi-phase joint operation development with PT Perkebunan Nusantara II (PTPN II). A total of 194 units of houses and land lots as well as 42 units of shophouses were sold out within only one day during the launch at the end of November 2021. The Company booked Rp464 billion marketing sales from the launch.
CitraLand Surabaya
CitraLand Surabaya were one of the main marketing sales contributors through its success in selling existing stock units. Landed residential products with selling prices below Rp2 billion were in demand as most buyers intended to capitalize the 100% VAT exemption incentive for these particular products. Integrated supporting facilities and amenities in the existing CitraLand Surabaya township were also key selling points for the potential buyers.
CitraRaya Tangerang
The Company continues to meet the high demand for affordable housing in Greater Jakarta area, one of which through CitraRaya Tangerang project. In 2021, CitraRaya Tangerang launched 6 new residential clusters with selling prices ranging from Rp600 million to Rp1.6 billion. The launches received positive responses from the buyers primarily due to the strategic location and the integrated facilities and supporting amenities in CitraRaya Tangerang.
CitraLand Puncak Tidar Malang
The Company launched a 32-hectare new project named CitraLand Puncak Tidar Malang. Carrying the concept of “Serenity at the Hill”, the project will be developed into premium resort properties in the hills of Malang City that integrate an exclusive residential area with commercial facilities and supporting amenities. On its inaugural launch, CitraLand Puncak Tidar Malang offered 163 units in Blue Aqua cluster with selling prices range from Rp1.2 billion to Rp2.5 billion for 1-story houses and Rp2.7 billion to Rp4.6 billion for 2-story houses.
