Property developer PT Sentul City reported marketing
sales of 1.24 trillion rupiah ($105.3 million) up to August,
against its 2014 full-year target of 1.9 trillion rupiah.
The firm had cut its full-year marketing sales target from
2.5 trillion rupiah on concerns of slowing demand due to a
restriction on high loan-to-value ratio mortgage lending, high
interest rates and security during the election period, said
co-CEO Andrian Budi Utama.
Sentul spent 330 billion rupiah on capital expenditure until
August, or 55 percent of its total target. The funds were mostly
used to build infrastructure and open new projects in Sentul
City, West Java. (Kontan)
Note: Reuters has not verified this story and does not vouch
for its accuracy.
(1 US dollar = 11,777 rupiah)
(Compiled by Jakarta Newsroom; Editing by Gopakumar Warrier)