Property developer PT Bumi Serpong Damai (BSD) expects marketing sales in 2014 to remain flat due to a restriction on high loan-to-value ratio mortgage lending and high interest rates, said Director Hermawan Wijaya.
The firm sees organic sales in 2014 reaching 5 trillion rupiah ($408.8 million), Wijaya added.
The firm booked marketing sales of 7.35 trillion rupiah in 2013, up 72 percent from a year earlier and recorded organic sales of 5.4 trillion rupiah.
BSD plans to spend 3 trillion rupiah on capital expenditure this year, unchanged from last year, the Investor Daily reported.
Note: Reuters has not verified this story and does not vouch for its accuracy.
($1 = 12230 rupiah) (Compiled by Jakarta Newsroom; Editing by Prateek Chatterjee)