Ciputra to build $747M Jakarta property project
Publicly listed property company PT Ciputra Property plans to invest Rp7 trillion ($747.36 million) in an integrated shopping mall, hotel and apartment project in Jakarta, Asia Pulse reported Wednesday (16/1/08).
Company president Candra Ciputra said the project, Ciputra World, is to be completed in 2010 and will be built in three phases.
The company hopes to post Rp750 billion ($79.5 million) in revenues this year, up from Rp280 billion last year and Rp268.87 billion in 2006.
Meanwhile, two offshore subsidiaries of the Ciputra Group plan to launch initial public offerings (IPO) on the Singapore and Hong Kong Stock Exchanges in the second half of this year.
The fund from the share sales will be used to speed up construction of their projects, Ciputra development director Tulus Santosa said. The subsidiaries, which he did not name, would be seeking around $500 million in proceeds.
Company president Candra Ciputra said the project, Ciputra World, is to be completed in 2010 and will be built in three phases.
The company hopes to post Rp750 billion ($79.5 million) in revenues this year, up from Rp280 billion last year and Rp268.87 billion in 2006.
Meanwhile, two offshore subsidiaries of the Ciputra Group plan to launch initial public offerings (IPO) on the Singapore and Hong Kong Stock Exchanges in the second half of this year.
The fund from the share sales will be used to speed up construction of their projects, Ciputra development director Tulus Santosa said. The subsidiaries, which he did not name, would be seeking around $500 million in proceeds.