PT Diamond Citra Propertindo Tbk (DADA) plans to develop its property business this year by conducting initial public offering (IPO) on 14 February. From the IPO, DADA obtained Rp218.99 billion fund which will be allocated for land acquisition (Rp199.4 billion) of 3.7 hectares in Bogor through its subsidiary entity, PT Arba Propertindo and working capital of the subsidiary. On the location, DADA plans to construct an apartment, landed houses and other commercial areas to be marketed in 2021.