Indonesia property developer Ciputra plans to raise $358m via REIT, secures $30m debt from IFC

Indonesia-based public listed property company PT Ciputra Development Tbk (CTRA) has secured a senior loan from International Finance Corporation worth $30 million via its group company.  Another unit of Ciputra Development, public listed PT Ciputra Property (CTRP), plans to raise Rp5 trillion ($358.06 million) from real estate investment trust (REIT) route.

The IFC loan is being raised by PT Ciputra Residence and will help finance the residential and commercial property development projects in Java, Batam, Sulawesi, Sumatra, and Kalimantan province.

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