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Indonesian Property Maestro Ciputra Passes Away

On Wednesday (11/27), Dr. Ir. Ciputra, Founder of Ciputra Group, passed away at the age of 88 in Singapore. He left four children from his marriage to Dian Sumeler.

Ciputra, or Tjie Tjin Hoan who was born in Parigi, Central Sulawesi, on Aug 24, 1931, was known best for his mettlesome commitment to nurturing Indonesia’s entrepreneurs and develop the country through his property develeopment enterprise, with the famed Taman Impian Jaya Ancol, Pondok Indah housing complex, and Bumi Serpong Damai as examples of the group's work. Ciputra Group has successfully thrived on abroad expansions to Cambodia, China and Vietnam through his Singapore-based International City Development.

Despite news of the passing, CTRA stock is reported to still consolidate 5 points on level 1.015 per share or in other words raising 0,5% compared to its closing price on Tuesday evening ag 1.010 per share. 

Ciputra, often called Pak Ci by his closest, was the 23rd richest Indonesian by Forbes in 2016, a Satya Lencana Karya Satya award recipient in 1986 and 1995 in recognition of the developmental work his company has made, and considered as the greatest Indonesian philantropist. During his lifetime, he nurtured and provided precious life and entrepreneurship lessons for his peers and young businessmen in Indonesia. An undoubtedly great man, His passing was met with widesweeping condolences, as the country lost one of her bests. 



Jakarta Globe

The Jakarta Post


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