Ciputra Res Loan (IFC-37122)

Countries
  • Indonesia
Where the impacts of the investment may be experienced.
Specific Location
Java, Batam, Sumatra, Sulawesi and Kalimantan
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 29, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
PT CIPUTRA RESIDENCE
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.31 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 441.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 13, 2017

Disclosed by Bank Jan 14, 2016


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Project Description
PT Ciputra Residence (“CR” or the “Company”) is a leading property development company in Indonesia. Its core business involves development of new neighborhood townships and ancillary facilities. The Company plans to further develop residential and commercial property projects in Java, Batam, Sumatra, Sulawesi and Kalimantan over the next few years (the “Project”).
Investment Description
  • International Finance Corporation (IFC)
The Project Sponsor is PT Ciputra Development Tkb (“CD”), the publicly listed holding company of the Ciputra Group, which wholly owns CR. CD was established in 1981 by its current Chairman, Dr. Ir. Ciputra, and is the flagship holding company of the broader Ciputra Group. At present, CD and its subsidiaries have over 45 residential and commercial projects in 25 cities spread across the country, making it one of the most geographically diversified developers in Indonesia. The shareholders of CD are the Ciputra family (39%) and the public (61%).
Contact Information
Agussurja Widjaja PT Ciputra Residence Ciputra World 1, DBS Bank Tower 39th Floor Jl. Prof. DR. Satrio Kav. 3-5, Jakarta 12940 Indonesia Tel: (62-21) 2988 5858 Fax: (62-21) 2988 8585 E-mail: mailto:aguswdj@ciputra.com ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/