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Premier Insight : CTRA, We went to Citra Maja Raya yesterday
Thursday, April 19, 2018       09:27 WIB

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We went to Citra Maja Raya yesterday, and found some interesting news:
  • There are several other clusters, namely Grand Balaraja, Golden Kirana, and Permata Mutiara Maja, which located near 's location. Although located nearby, these other clusters tap lower market segment compared to ( FLPP Housing). Our source reveals that Panarub (Subsidiary of ) and have reserved approximately 300 units for their employees in Grand Balaraja Residences.
  • currently owns total of 2,600ha in the area, with currently has been developed into 3 phase. The houses' was designed to cater mid-low segment with price point varies from Rp160mn-Rp424mn.
  • According to the construction workers, Citra Maja Raya target to complete the shop house construction by July before Eid Holiday. They also named and Merah Putih as their main cement vendors.
  • Our concern still lies on: 1) lack of public facilities such as hospital, shopping malls & major crowd puller, and 2) the lack amount of end-user who lives in the location. 3) Investor has to wait longer because current primary markets are competing against secondary market. (Company).

 Comment: We believe that Citra Maja Raya is still in the nascent stage, which still needs couple of years to be developed. However, we believe the development is in the right track for 's long-term growth strategy. 


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