In today’s briefing:
- Ciputra Development (CTRA IJ) – Riding the Affordability Wave
Ciputra Development (CTRA IJ) – Riding the Affordability Wave
- Ciputra Development (CTRA IJ) continued to book strong marketing sales in 1H2024 and looks well on track to meet or beat its FY2024E guidance with a strong pipeline of projects.
- CTRA has the most geographically diversified portfolios in the sector and operates an asset-light joint operating scheme strategy allowing for faster expansion and a good portion of recurrent rental income.
- The VAT exemption program looks set to continue to drive residential demand in 2H2024 with CTRA riding the affordability wave having also repositioned its target market.
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