Property developer Ciputra Development (CTRA) allocates capital expenditure (capex) of Rp2 trillion for this year, to funding new products. It has spent capex of Rp700 billion during the first quarter (Q1) of this year. Currently CTRA has two new residential projects and seven main residential projects in several cities in Indonesia. Said new projects include Citraland City Sampali, Deli Megapolitan City and Citraland Gresik City. CTRA targets to book marketing sales of Rp11.2 trillion this year, a 8% rise year on year (y/y).
