PT Ciputra Development Tbk

What PT Ciputra Development Tbk does

PT Ciputra Development Tbk (IDX: CTRA) is an Indonesia-headquartered, publicly-listed real estate developer founded in 1981 by Ir. Ciputra, operating a diversified portfolio of 130 completed properties across six categories: 87 residential developments, 5 shopping malls, 9 hotels, 8 office buildings, 7 superblocks, and 14 healthcare facilities. The company develops integrated master-planned townships under multiple sub-brands including CitraLand, CitraGarden, CitraRaya Tangerang, Citra Maja Raya, Citra Sentul Raya, Ciputra World 1 and 2 Jakarta, with recurring-income assets such as Ciputra Mall, Hotel Ciputra, and Ciputra Hospital embedded within or alongside the residential estates.

The revenue model splits into two segments. Property development, the larger line at 82% of consolidated 2020 revenue (IDR 6.6T), drives one-time sales of landed houses, shophouses, apartments, and land plots across price tiers from affordable units at Rp 150 million (Citra Maja Raya) to premium units above Rp 1.9 billion (Citra Sentul Raya). The remaining 18% (IDR 1.5T in 2020) comes from recurring income across shopping malls (rental), hotels, offices (rental), and hospitals (services, including COVID-19 testing that grew the segment 35% YoY in 2020). Marketing sales — a leading indicator for revenue recognition — were IDR 8.2 trillion in 2022, with a revised IDR 9.8 trillion target for 2023.

The go-to-market is sales-led via on-site marketing galleries across major Indonesian cities (Jakarta, Surabaya, Tangerang, Medan, Makassar, Sampali), complemented by digital cluster launches, property exhibitions, and a channel network spanning eight banks (BCA, CIMB Niaga, Mandiri, BTN, BNI, UOB, CCB) and partners including Tokopedia, Gojek, ERA, Century 21, and Ray White. Customers span individual homebuyers across mass-affordable to premium segments and institutional/government buyers (e.g., ASN housing at IKN). The company has a B+ (Stable) Fitch rating, IDX ESG Leaders Index membership since 2020, and SGX-listed S$150 million 6% MTN due 2026 under a S$400 million programme managed by DBS Bank.

Name

PT Ciputra Development Tbk

Legal name

PT Ciputra Development Tbk

Website

https://ciputradevelopment.com

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

501–1,000 employees

Short description

PT Ciputra Development Tbk is an Indonesian publicly-listed property developer (IDX: CTRA) operating 130 integrated townships, malls, hotels, offices, superblocks, and hospitals under brands including CitraLand, CitraGarden, and Ciputra World, serving mass-market to premium homebuyers across Indonesia.

Ownership category

akta.pro rank

Product category

Real Estate Development

SIC

Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth) (BPAJADAJ)

Keywords

• Residential property development
• Integrated township projects
• Commercial real estate
• Mixed-use developments
• Property investment

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales, Others

Revenue model

1. Property Development Sales: One-time sales of residential houses, landed houses, shophouses, land plots, apartments, and office buildings. This is the primary revenue driver, accounting for approximately 82% of total consolidated revenue. Landed residential products (houses, shophouses, land lots) represent the dominant share at 90% of marketing sales.
2. Recurring Income: Recurring revenue from shopping centers (malls), hotels, office rentals, and hospitals. This segment accounted for approximately 18% of total consolidated revenue. Shopping malls and hotels generate rental income while hospitals provide healthcare services including COVID-19 related treatments and tests.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels8 records

Core offering

PT Ciputra Development Tbk is an Indonesian property developer that builds and sells residential landed houses, apartments, shophouses, and land plots, while also developing and operating commercial real estate including shopping malls, hotels, office buildings, superblocks (integrated mixed-use developments), and healthcare facilities. The company operates across 130 properties spanning 6 product categories across major Indonesian cities under brands such as CitraLand, CitraGarden, CitraRaya, Citra Maja Raya, Citra Sentul Raya, Ciputra World, and Ciputra Hospital.

Product overview

PT Ciputra Development Tbk is a leading Indonesian real estate developer operating a diversified property portfolio across six main product categories: Residential (87 properties including CitraLand, CitraGarden, Citra Maja Raya brands), Mall/Shopping Centers (5 properties including Ciputra World Surabaya and Mal Ciputra Jakarta), Hotels (9 properties), Office Buildings (8 properties including Citra Towers Kemayoran), Superblocks (7 integrated mixed-use developments), and Healthcare (14 hospitals). The company also operates Ciputra Artpreneur cultural venue and develops large-scale integrated townships such as Ciputra World 1 and 2 Jakarta, CitraRaya Tangerang, and CitraLand City CPI Makassar. Properties are primarily located across major Indonesian cities including Jakarta, Surabaya, Tangerang, Medan, Makassar, and others.

Differentiator

Problem solved

Functional benefit

Brands

• CitraLand: Premium residential township developments including CitraLand City Losari Makassar, CitraLand Surabaya, CitraLand Gama City Medan, CitraLand Driyorejo CBD, CitraLand Tallasa City Makassar, and CitraLand Celebes
• CitraGarden
• CitraRaya
• Citra Maja Raya
• Citra Sentul Raya
• Ciputra World
• Ciputra Artpreneur
• Ciputra Hospital
• Ciputra Mall
• Ciputra Residence
• Hotel Ciputra
• CitraIndah City
• CitraGrand City

Products and services

• Residential Properties
• Mall / Shopping Centers
• Hotel Operations
• Office Buildings
• Superblock (Integrated Mixed-Use Developments)
• Healthcare Facilities (Ciputra Hospital)

Quantifiable outcome

• Net income increased 14% year-on-year to IDR 1.3 trillion in 2020 despite COVID-19 pandemic, with EPS of Rp 71
• +5 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered major and core.

• Singapore Tourism Board (STB)majorGTM or Marketing Partner · 9 April 2026Year-long strategic collaboration from April 2026 to April 2027 aimed at increasing Indonesian tourist arrivals and spending in Singapore. Targets residents, consumers, and tenants across the entire Ciputra Group property network in Indonesia. Includes curated travel programs for students, residents, and business partners. Signing ceremony held at Ciputra University Surabaya with Mr. Tri Ciputra Harun (Associate Director, Ciputra Group) and Ms. Terrence Voon (Executive Director Southeast Asia, STB).
• Toda CorporationcoreStrategic or Co-development Partner · 12 July 2023Joint development partner for The Newton 2 apartment tower at Ciputra World 2 Jakarta. Toda Corporation is a Japanese construction and real estate company. Management representatives including Ms. Linawati Salim (Director of Toda Group Indonesia) and Mr. Ryu Kuge (Toda Investment Corporation Japan) attended the topping-off ceremony.
• Tata Group (PT Tatamulia Nusantara)coreStrategic or Co-development Partner · 12 July 2023Joint development partner for The Newton 2 apartment tower at Ciputra World 2 Jakarta. Mr. Iwan Adi Susanto (President Director of PT Tatamulia Nusantara) attended the topping-off celebration. Part of mixed-use development integrated with Ciputra World 1.
• PT Bina Karya (Persero)majorStrategic or Co-development Partner · 6 July 2023Cooperation agreement for integrated area development in Indonesia's new capital IKN (Nusantara Capital City). The integrated area consists of housing, hotels, golf courses, MICE (meetings, incentives, conferences, and exhibitions) and botanical garden. Signed at Ciputra World 1 Jakarta. Ciputra Group committed to invest in IKN as part of private sector participation following IKN Pre-Market Sounding Project.
• Trisula CorporationcoreStrategic or Co-development Partner · 14 February 2020Joint venture partner for Citra Landmark apartment project in Southeast Jakarta. Citra Landmark consists of 11 towers on 7 hectares in Ciracas, Jakarta, offering units from Rp 300 million. Targeting productive millennials and new families.
• Asia Green Real EstatecoreStrategic or Co-development Partner · 14 February 2020Joint venture partner for Citra Landmark apartment project in Southeast Jakarta. Asia Green Real Estate requires all projects in their portfolio to have EDGE green building certification. Previously collaborated on The Newton 1 Serviced Apartment project. The Newton 2 development is built in compliance with environmentally friendly green building rules.

Scale indicators17 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Hongkong Land: Asian property investment and development group with premium mixed-use projects; comparable to Ciputra World 1/2's premium superblock and Grade-A office positioning.
• CapitaLand (CapitaLand Investment): Asia-Pacific real estate investment manager with significant Indonesia exposure across residential, retail, and integrated developments; a broader incumbent comparable on integrated mixed-use scale and cross-border capital access.
• City Developments Limited (CDL): Singapore-listed global real estate developer with residential, commercial, and hotel assets across Asia; comparable to Ciputra's diversified residential + hotel + office portfolio and SGX capital markets access.

Direct peers

• PT Summarecon Agung Tbk: Indonesian township developer with integrated residential, commercial, and recreational properties; operates master-planned communities like Summarecon Serpong and Summarecon Bekasi, directly comparable to Ciputra's CitraRaya and CitraLand model.
• PT Alam Sutera Realty Tbk: Indonesian integrated township developer (Alam Sutera, Suvarna Sutera) with residential, commercial and retail offerings; comparable in scale, geographic focus on Greater Jakarta, and township-led business model.
• PT Agung Podomoro Land Tbk: Indonesian developer focused on mid- to high-rise residential and mixed-use developments in Greater Jakarta; competes directly with Ciputra's apartment and superblock products such as Ciputra World and Citra Landmark.
• Sinar Mas Land (BSD City): One of Indonesia's largest integrated property developers, anchored by BSD City township; develops residential, commercial, and industrial properties across the archipelago with a comparable master-planned township strategy.
• PT Pakuwon Jati Tbk: Indonesian developer known for superblock and mixed-use projects (Pakuwon Mall, Tunjungan Plaza) combined with residential towers; comparable to Ciputra's superblock and mall-led strategy.
• PT Jaya Real Property Tbk: Indonesian developer of Bintaro Jaya township with residential, commercial and industrial properties; directly comparable to Ciputra's CitraGarden Bintaro and broader township portfolio.
• PT Lippo Karawaci Tbk: Diversified Indonesian property developer with townships, apartments, hospitals (Siloam), and retail; directly comparable to Ciputra in terms of integrated residential + healthcare + retail portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC1mFggDFssefrR-v3SbZ7Eg
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/pt-ciputra-development-tbk
• Instagraminstagram.com/ciputra.group
• TikToktiktok.com/@ciputragroup

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PT Ciputra Development Tbk