Jakarta. Agung Podomoro Land, a listed property developer, expects to see stagnated marketing sales this year, with weak demand of 2015 – which slashed sales by half –predicted to persist and officials uncertain that an impending tax amnesty can boost figures.

The company only expects to sell Rp 3 trillion to Rp 3.5 trillion ($223.5 million-$260 million) worth of homes and apartments that have yet to be constructed this year, Cesar de la Cruz, Agung Podomoro's marketing director, said over the weekend. The estimate is the same as last year's sales figures.

The company only managed to book Rp 1.74 trillion in marketing sales in the first nine months of 2015.

Cruz said that Agung Podomoro and other property companies are pinning their hopes on the recent decline of Bank Indonesia's rate by 50 basis points to 7 percent to lift demand, but the main driver to its property growth remains elusive.

"Uncertainty overshadow as the tax amnesty plan is far from certain," Cruz said, referring to a government plan to scrap tax fines for Indonesians willing to declare their wealth in other countries.

In its initial iteration, taxpayers were required to repatriate their money to be eligible for the tax facility. That would increase demand to investment assets in the country, including property. The tax office projects the plan could attract $100 billion in Indonesian funds from abroad.

But the government revised the tax amnesty bill last month, allowing the funds to stay abroad. The tax amnesty law is expected to be ratified in March.

Agung Podomoro's rival, Bumi Serpong Damai, also expects flat growth in marketing sales this year. The company, which is controlled by the Sinar Mas Group, aims to book Rp 6.8 trillion in marketing sales in 2016, similar to its achievement last year after missing a Rp 7.5 trillion target due to tepid consumer spending.