Citra Maja Raya is the first project that the Company worked on. The project is the development of an independent city covering 430 hectares in Maja Subdistrict, Lebak Regency, Banten Province. Citra Maja Raya offers a choice of housing that is easily accessible using public transportation at a relatively affordable price.
In terms of location, Citra Maja Raya housing is very strategic because it is easily accessible by public transportation, namely in front of Maja Railway Station. In addition to private vehicles, of course, Citra Maja Raya can be accessed by commuter trains from Tanah Abang Station, Jakarta, with a travel time of around 90 minutes. Per house unit is sold at prices ranging from Rp130,000,000 to Rp.300,000,000.
The project which began on September 6, 2013 was
the result of collaboration between the Company and PT Harvest Time (an affiliate), through Joint Operation (KSO) with PT Citra Benua Persada, Ciputra Group business unit. In accordance with the contents of the KSO agreement, the Company is committed to providing land for development, while Ciputra plays a role in the development and marketing. The KSO also provides an open option for the addition of a maximum land area of up to 570 hectares.
From this KSO cooperation, the Company has the right to compensate land prices of Rp70,000 per square meter, with a 10% increase per year. While the net profit was divided by 53% for the Company and 47% for PT Harvest Time, from the portion of the net profit sharing of 50%: 50% with PT Citra Benua Persada. For promotional and marketing purposes, the Ciputra Group logo used during the development of the Citra Maja Raya project is still ongoing.
Before the development project begins, the Company has carried out an environmental impact analysis (EIA) or permit / environmental management business (UPL / UKL) as required by applicable laws and regulations. The analysis carried out covers the impact of the development plan on the surrounding environment, starting from the potential for pollution, the effect on traffic, as well as other relevant factors. PT Harvest Time, as one of the parties in Citra Maja, has obtained an AMDAL permit for the development of a joint project of ± 450 hectares, covering a development area on 230 hectares of land owned by the Company.