PT. Pakuwon Jati Tbk. was established based on Notarial Deed No. 281 dated September 20, 1982 of Kartini Muljadi, SH, notary in Jakarta. The Deed of Establishment was approved by the Minister of Justice in his Decision Letter No. C2-308. HT.01.TH.83, dated January 17, 1983, and was published in the State Gazette No. 28, dated April 8, 1983 Supplement No. 420.
The Company’s Articles of Association was amended several times, the last amendment was with Notarial Deed No. 24 dated October 21, 2015, to conform with the Regulation of Financial Service Authority (Otoritas Jasa Keuangan). This latest amendment was notarized by Esther Mercia Sulaiman, SH, notary in Jakarta and approved by amendments were approved by Minister of Law and Human Rights of Republic of Indonesia through Letter No. AHU-AH. 01.03-0974354 dated October 23, 2012. The Company's presence in the property industry began with Tunjungan Plaza I , the first modern shopping center in Surabaya in operation since 1986. In 1989 PT Pakuwon Jati Tbk became the first property company listed in the Jakarta Stock Exchange.
At the beginning of two decades of the Company's operations were still focused in Surabaya through Superblock Tunjungan City and Pakuwon City development.
The year 2007 marked the Company's presence in Jakarta market through the development project of Superblock Gandaria City that has later been in operation since 2010. The presence in Jakarta market was bigger through Superblock Kota Kasablanka project that has been in operation two years later. At the end of 2019 PT Pakuwon Jati Tbk began developing superblocks in Bekasi.
The Company continues to grow as one of the leading developers in Indonesia supported with a well-balanced portfolio of development and investment properties..
Refinanced US$250m bond with US$400m of
4.875% Senior Unsecured Notes due 2028
Opening of Pakuwon Mall 4 and Pakuwon City Mall 2. Acquired Hartono Mall and Marriott Yogjakarta
and Hartono Mall Solo. Opening of The Westin Surabaya
Gradual handover of Kota Kasablanka condominium phase 3 (Chianti), Office Pakuwon Tower Jakarta. Opening of the Four Points Hotel by Sheraton Surabaya Pakuwon Indah on 8 December 2019
Gradual handover of 2 Kota Kasablanka condominum phase 2 (Angelo and Bella), Anderson's apartment at Superblock Pakuwon Mall and One Icon Apartment at Tunjungan City Superblock, Surabaya.
Opening of Pakuwon Mall Phase 2 & 3 in February 22, 2017 and Tunjungan Plaza 6 in September 23, 2017. Refinanced USD 200 million of Senior Unsecured Notes with 250 million of 5.0% due in 2024
Acquired 11 ha of land in Daan Mogot, West Jakarta and opening of Four Points by Sheraton Surabaya Hotel in June 2016
Opening of Ascott Waterplace Surabaya in May 2015, Tunjungan Plaza retail mall phase V Surabaya and Sheraton Grand Jakarta, Gandaria City Hotel in October 2015
Acquired 67.1% of PT Pakuwon Permai. Raised USD 200 million of 7.125% Senior Unsecured Notes due 2019. Increases shareholding of 4.5ha Simatupang land bank from 45% to 70%
Acquired 33% stake in Usada Insani Hospital, as well as 45% stake in 4.2ha land bank in
Simatupang, South Jakarta
Completed 4 condos, 2 offices and opened Kota Kasablanka mall
with 94% pre-leasing rate
Acquired Kota Kasablanka Superblock in
Jakarta’s Fringe CBD
Completed 2 condos, 1 office tower, and 1 mall in Gandaria City,
as well as 1 mall in Pakuwon City
Rebranding of Pakuwon City into a self-contained city, complete with retail/commercial areas,
school, and a hospital.
Entered the Jakarta Market with the acquisition of land for
Gandaria City Superblock in South Jakarta
Completed Tunjungan Plaza III and IV, Surabaya Sheraton Hotel and Regensi Condominium Tunjungan City becomes the 1st Superblock in Indonesia
Completed Tunjungan Plaza II Shopping Center (Lifestyle Center)
and the Mandiri Office Tower
1st Property company to be listed on
Jakarta Stock Exchange
Pakuwon Jati established to develop Tunjungan Plaza I,
the first modern shopping center in Surabaya.