PT Pakuwon Jati, Tbk.
Kode Saham: PWON.IJ (Bloomberg), PWON.JK (Reuters)
PWON Records 8% Growth in Recurring Revenue, Supported by Retail and Hotel Performance

 

Financial Performance 9M2026

PT Pakuwon Jati (the Company) recorded net revenue of Rp 5.21 trillion in the first nine months of 2026, representing a 2% increase compared to Rp 5.12 trillion in the same period of the previous year. The Company’s performance was supported by 8% growth in recurring revenue, which reached Rp 4.44 trillion, up from Rp 4.10 trillion in the same period last year. This growth reflects the resilience of the Company’s investment property portfolio and the increasingly strong contribution from the operations of shopping malls, hotels, and other commercial assets. In the first nine months of 2026, recurring revenue accounted for 85% of total net revenue, up from 80% in the same period of the previous year. This higher contribution underscores the increasingly strong recurring revenue base that supports the Company’s sustainable business performance.

In terms of profitability, the Company’s gross profit increased by 4% to Rp 2.96 trillion, compared with Rp 2.84 trillion in the same period of the previous year. EBITDA also grew by 4% to Rp 2.86 trillion, from Rp 2.74 trillion in the corresponding period of the previous year. These improvements reflect the Company’s ability to maintain profitability amid changes in revenue composition. The Company recorded net income of Rp1.78 trillion in the first nine months of 2026. Excluding the effects of foreign exchange differences and changes in investment values, adjusted net income reached Rp 2.13 trillion, representing a 5% increase from Rp 2.03 trillion in the same period of the previous year. This adjusted figure provides additional insight into the Company’s operating performance, excluding the impact of these two factors. With a complementary portfolio of shopping malls, hotels, office buildings, and residential properties, the Company remains focused on strengthening recurring revenue growth while maintaining profitability and creating long-term value for its stakeholders.

 

 

The Company’s recurring revenue for the first nine months of 2026 reached Rp 4.44 trillion this comprised retail mall revenue of Rp 3.12 trillion, up 7% from Rp 2.92 trillion in the corresponding period of the previous year; office leasing revenue of Rp 187 billion, down 11% from Rp 211 billion; and hospitality revenue of Rp 1.13 trillion, up 17% from Rp 966 billion in the same period last year.

 

By revenue segment, the Company’s revenue composition consisted of retail leasing at 60%, hotels and serviced apartments at 22%, office leasing at 4%, condominium sales at 9%, landed house sales at 5%, and office sales at 1%.

 

Marketing Sales 9M 2026 

The Company recorded marketing sales of Rp 811 billion in the first nine months of 2026, a 10% decrease compared to Rp 903 billion in the same period last year. Approximately 49% of total marketing sales were generated through the Government’s Value Added Tax Borne by the Government (PPN DTP) incentive program, which has been in effect since late 2023. The marketing sales mix for the first nine months of 2026 comprised condominiums and office units, which accounted for 69%, while landed houses contributed the remaining 31%.

 

Capital Expenditure

During the first nine months of 2026, the Company incurred capital expenditure of Rp 780 billion, primarily allocated to the construction of Pakuwon Mall Surabaya Phase 5, the Pakuwon Mall Bekasi superblock project and Kota Kasablanka Phase 4

 

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 property developer with properties in Surabaya, Jakarta, Bekasi, Yogyakarta, Solo and Bali, also currently developing new superblocks 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