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AKARTA: Agung Podomoro Group has targeted its property business to grow by 13 or 14 percent next year, up from 11 percent this year.

Agung Podomoro marketing director Indra W. Antono said he was optimistic about the target due to the country’s good macro economic situation and supportive interest rate.

He also said property demand in Jakarta remained strong, while in other cities, the commercial buildings demand was high. “We allocated 35 percent of our capital expenditure of Rp 1.5 trillion [US$170 million] for our expansion program to help reach our target,” he said.

Cirebon and Pekanbaru are among the cities in Agung Podomoro’s expansion plan next year, he said. — JP