As one of the largest property developers in the country, Ciputra Development has shown its excellence in the property sector with its strong achievements over the review period.
The past year has been a fruitful year for Ciputra Development, with a a revenue of Rp9.8 trillion ($625 million), gross profit of Rp4.9 trillion, and net profit of Rp2.1 trillion. Its innovative joint-operation scheme drove the growth, and generated Rp7.7 trillion in marketing sales, marking a 34% year-on-year increase. The joint-operation business model is an asset-light approach, and has enabled Ciputra to secure land banks in strategic locations.
Ciputra mainly focused on property development for sale, which contributes 77% of revenue, with more than 88 projects across 34 cities nationwide.
In 2023, Ciputra launched three residential projects including CitraGarden Serpong, Citra City Sentul and Citra Garden Bintaro. CitraGarden Serpong generated the highest marketing sales during the research period, at Rp1.7 trillion.
In addition to residential projects, Ciputra’s investment properties have also achieved strong performance. Ciputra’s shopping malls reported an impressive 15% year-on-year revenue growth, and the hotel assets also had robust growth, with a 9% year-on-year increase in revenue per available room.
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