PT Pakuwon Jati, Tbk.
Kode Saham: PWON.IJ (Bloomberg), PWON.JK (Reuters)
PWON Maintains Stable Performance with 7% increase in Recurring Revenue

 

1H 2026 Financial Performance

PT Pakuwon Jati (PWON) delivered a stable performance in the first half of 2026 despite heightened global economic uncertainty, supported by the continued strength of its recurring income portfolio. Total Revenues remained stable at Rp 3.37 trillion compared to the same period last year. The Company once again demonstrated the resilience of its business model, with recurring revenue increasing by 7% to Rp 2.89 trillion from Rp 2.69 trillion in the corresponding period last year. The growth in recurring revenue successfully offset the moderation in development revenue, which was primarily attributable to the timing difference in revenue recognition from unit handovers. Gross Profit rose 2% to Rp 1.92 trillion, compared to the same period last year of Rp 1.88 trillion. EBITDA grew 3% from Rp 1.82 trillion last year to Rp 1.88 trillion. The recurring income portfolio continued to be driven by the solid performance of the retail mall and hospitality segments.

 

Recurring revenue in 1H 2026 increased by 7% from Rp 2.69 trillion to Rp 2.89 trillion this period, which comprises of revenue from retail mall of Rp 2.06 trillion, a 7% increase from Rp 1.92 trillion from the same period last year, revenue from office leasing of Rp 124 billion, a 16% decrease from Rp 147 billion compared to the same period last year, and revenue from hospitality reached Rp 709 billion, 15% better than the same period last year of Rp 618 billion. 

Breakdown of Revenue per segment reveals that retail leasing accounts for 61%, hotel and serviced apartment 21%, office leasing 4%, condominium 8%, landed house sales 5% and office sales 1%.

 

Marketing Sales 1H 2026 

Company reported marketing sales in 1H 2026 of Rp 565 billion, a 6% decrease from Rp 603 billion from the same period last year. Notably, 42% of the total marketing sales derived from government’s PPNDTP incentive program which has been in effect since late 2023. Sales composition in 1H 2026 includes 67% from condominiums and office units also 33% from landed houses. 

 

Capital Expenditure

Capital expenditure for 1H 2026 amounts to Rp 412 billion, was mainly used to fund Pakuwon Mall Surabaya Phase 5 construction project.

 

Pakuwon Jati Overview

Pakuwon Jati Tbk (PWON: IDX) is a real estate developer with 44 years of experience in developing and operating properties in Indonesia. Established in 1982 and listed on the Jakarta Stock Exchange since 1989, Pakuwon Jati is a geographically diversified real estate developer with properties in Surabaya, Jakarta, Bekasi, Yogyakarta, Solo, Bali, Semarang and Batam. Its key portfolio includes shopping mall, residential, office building and hospitality developments. The Company is vertically integrated across the entire real estate value chain from land acquisition, property development, marketing to operational management. Pakuwon Jati is the pioneer of Superblock concept in Indonesia, a large-scale integrated development comprising retail shopping centres, offices, condominiums, and hotels, with proven track record and strong reputation in the property industry enabling the Company to establish long-term relationships with tenants and buyers, providing a solid foundation for rapid business expansion.

Below is the Company’s portfolio:

  • Gandaria City Superblock, Jakarta (retail shopping center, apartment, office building and hotel)
  • Kota Kasablanka Superblock, Jakarta (retail shopping center, apartment, and office building)
  • Somerset Berlian, Jakarta (serviced apartment)
  • Blok M Plaza, Jakarta (retail shopping center)
  • Tunjungan City Superblock, Surabaya (retail shopping center, apartment, office building and hotel)
  • Pakuwon Mall Superblock, Surabaya (retail shopping center, apartment, serviced apartment, and hotel) and Pakuwon Mall Mansion phase 5 (3 apartments and hotel) which is under construction
  • Royal Plaza, Surabaya (retail shopping center)
  • Pakuwon City township (landed residential) and Educity apartment in East Surabaya
  • Pakuwon City Mall Superblock (retail shopping centre, apartments and hotel) and Park Shanghai (culinary & entertainment destination) in East Surabaya
  • Grand Pakuwon township (landed residential) and Food Junction (Culinary & leisure destination), in West Surabaya
  • Pakuwon Mall Bekasi Superblock, (retail shopping center, apartment and hotel)
  • Pakuwon Mall Jogja and Yogyakarta Marriott Hotel (retail shopping center and hotel)
  • Pakuwon Mall Solo Baru (retail shopping center)
  • Four Points by Sheraton Bali, Kuta (hotel)

For further information, please contact:

Minarto Basuki (Director and Corporate Secretary) 
PT Pakuwon Jati, Tbk.

Pakuwon City Mall 5th Floor 
Jl. Kejawan Putih Mutiara No. 17, Surabaya

Telp : (6231) 99218800
Email: corpsec@pakuwon.com
Website: www.pakuwonjati.com