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Bullish Ciputra attempts to triple property sales in 2012

The property unit of Indonesia’s Ciputra Group is aiming to triple sales this year as it starts selling plots in new projects, even as an analyst warns price rises this year are unlikely to top those in 2011.

Artadinata Djangkar, a director of Ciputra Property, said on Wednesday that the company is seeking to achieve marketing sales of IDR1.5 trillion (USD167 million) this year. Marketing sales refers to properties that have been purchased but the funds from them have not been recorded in the company’s books.

He said that in January alone, Ciputra World 2, a project located in Kuningan business district, brought in IDR227 billion in marketing sales, equivalent to 15 percent of the total target this year.

(Source: Jakarta Globe )