CTRA – Posting performance close to pre-covid-19 positions

CTRA – Posting performance close to pre-covid-19 positions Ciputra Development's commercial center and commercial area (CTRA) segment contributed IDR317.83 bn (+14.80% yoy) in 1H23. CTRA has a portion of 18% of recurring income. CTRA currently has 5 mall projects spread throughout Indonesia, including Lotte Shopping Avenue Jakarta, Mall Ciputra Jakarta, Mall Ciputra World Surabaya, Mall Ciputra Semarang and Mall Ciputra Tangerang. CTRA has no plans to add another new mall in 2023, but is in the design process for a new mall in 2024. In terms of the average mall occupancy ratio, CTRA targets to reach the level of 98% by the end of this year. The target is supported by an increase in consumer visits that will attract tenants. (Source : Kontan)