PT Pakuwon Jati, Tbk.
Code: PWON.IJ (Bloomberg), PWON.JK (Reuters)
Quarter III 2021, PWON Revenue Increased 24%


Press Release

Financial Performance Quarter III 2021

PT Pakuwon Jati (PWON) booked net income Q3 2021 of Rp 3,788 billion, an increase of 24.3% from  last year of Rp 3,047billion. Gross profit this year is at Rp 1,727  billion, an increase of 14.5% compared to last year of Rp 1,508 billion. Meanwhile EBITDA of Rp 1,852 billion is 15.5% higher than last year’s Rp 1,603 billion.

Comprehensive profit is boked at Rp 801 billion,  9.7% higher than last year of Rp 731 billion.

On April 19, 2021, the Company issued Initial Obligation amounted to US$300 million and on May 17, 2021 the Company issued Additional Obligation of US$100  million with interest 4.875% and tenor 7 years which will be used to repay Senior Notes maturing 2024 amounted to US$250 million and for general corporate purposes.


Revenue composition of 2021 comprise 44% recurring revenue and 56% development revenue. This composition is consistent with the Company’s strategy to grow with balanced composition of recurring and development revenue.

Company’s recurring revenue in 2021 was booked at  Rp 1,675 miliar a slight decline of 3.1% compared to Rp 1,729 billion in 2020. 

Development revenue of the Company in 2021 reached Rp 2,113 billion   which is 60% better than that of 2020 of Rp 1,318 billion.

Based on revenue per segment, biggest contributors are condominium sales and retail leasing with 34.9% and 31.9% respectively. Landed housing contributed 18,8%, Hotel dan Serviced Apartments 7,3% , office leasing 5%, dan office sales 2,1%.


Marketing sales Q3 increased 38.7% yoy

Low interest rate and VAT incentive from government has pushed marketing sales on Q3 2021 which amounted to Rp 1,006 billion, a growth of 38.7% compared to same period last year. This amount of marketing sales is equivalent to 71.9% from Company’s target in 2021 of Rp 1,400 billion.

Sales composition on Q3 2021 is 55% from landed houses, 45% from condominium and office sales. 


Capital Expenses 

Capital Expenses Q3 2021 that has been spent by the Company is to fund construction projects of Pakuwon Mall Bekasi, East Coast Mansion, Pakuwon Mall phase 3 dan 4, and Kota Kasablanka Phase 2 amounting to Rp 403 billion.


Overview of PT Pakuwon Jati Tbk.

Pakuwon Jati, is the owner, manager, and property developer who has been in the field for 39 years. Pakuwon Jati is the first property developer to be listed on BEI in 1989 and is still listed until today. The Company has business concept that is diversified through property investment, where Pakuwon Jati develops, owns, and manages commercial shopping centers, office buildings, hotels, as well as property development. Besides, Pakuwon Jati also develops office buildings, strata-title condominiums, and township-scale residential. Pakuwon Jati strives to continue growing with balanced recurring and development revenue.


Below is the Company’s portfolio:


  • Superblock Gandaria City, Jakarta (retail shopping centers, apartments, offices and hotels)
  • Kota Kasablanka Superblock, Jakarta (retail shopping centers, apartments and offices)
  • Somerset Berlian, Jakarta (service apartment)
  • Blok M Plaza, Jakarta (retail shopping center)
  • Tunjungan City Superblock, Surabaya (retail shopping centers, apartments, offices and hotels)
  • Pakuwon Mall Superblock, Surabaya (retail shopping centers, serviced apartments, 4-star and 5-star hotels)
  • Royal Plaza, Surabaya (retail shopping center)
  • Pakuwon City township (landed residential), Pakuwon City Mall (retail shopping center), and East Coast Mansion (apartment under construction), as well as Educity Apartment, in East Surabaya
  • Grand Pakuwon township (landed residential) and Food Junction (Hypermarket, culinary & leisure destination), in West Surabaya
  • Superblok Pakuwon Mall, Bekasi (retail shopping center, apartment, and hotels that are all under construction)
  • Hartono Mall Yogyakarta dan Hotel (retail shopping center and hotel)
  • Hartono Mall Solo (retail shopping center)


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
Telepon : (6231) 58208788