JAKARTA - PT Ciputra Development Tbk (CTRA) is projecting that the first phase of development of property project in Nusantara Capital City (IKN), East Kalimantan, with an area of 150 hectares (Ha), will take up investment as much as IDR 2 trillion. The management is confident that this project will gain response from consumers as the capital city shifts.

During an interview with IDNFinancials today (27/9), Candra Ciputra, President Director of Ciputra Development, said that the property project in IKN will be developed gradually, on a total area of land of 300 Ha. “We acquire the land from the government to be developed as housing project,” he confirmed.

He mentioned that currently, the property project development is still under the early stage of planning. In the future, CTRA’s housing project will gain residents as civil servants move from Jakarta to IKN next year.

According to Ciputra, the project development in IKN has its own challenges as it establishes a housing complex in an underpopulated location. However, his company is confident that this project will be warmly welcomed by local communities as it is currently working on existing projects in Balikpapan and Samarinda, East Kalimantan.

CTRA’s projects in East Kalimantan include Citra Bukit Indah and Citra City in Balikpapan, as well as Citra Land City and Citra Grand Senyiur City in Samarinda. Besides East Kalimantan, this company has expanded into South Kalimantan, setting up BizPark Banjarmasin and Citra Land in Banjarmasin. (LK/ZH)