Ciputra enters brokerage

Ciputra enters brokerage

JAKARTA (JP): Real estate developer Ciputra Group has entered
the brokerage business in cooperation with U.S. broking house
Century 21.

Ciputra subsidiary PT Sagotra Usaha has been appointed as
Century 21's master franchiser in Indonesia.

Sagotra's president, Rina Ciputra, said yesterday the company
aimed to recruit 30 broker-members.

"We estimate the figure to reach 200 within the next five
years with each broker supervising 10 sales associates," he said.

She said Century 21 broker-members in the U.S. supervised
between 60 and 80 sales associates.

Century 21 was incorporated in 1971 and has 6,400 offices in
23 nations and 101,000 sales associates.

Century 21's sales reached 700,000 property units worth US$100
billion in 1996.

Rina said Sagotra aimed to market primary and secondary houses
in Indonesia. "We expect to book Rp 1 trillion in sales turnover
by the end of 1998." (icn)