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)