PT Pakuwon Jati, Tbk.
Code: PWON.IJ (Bloomberg), PWON.JK (Reuters)
Q1 2023, Net Profit PWON Grow 61%


Press Release

Financial performance Q1 2023 

PT Pakuwon Jati (PWON) recorded net revenue Q1 2023 Rp 1.385 billion, 5,9% better than last year of Rp 1.307 billion. Gross profit this year recorded at Rp 747  billion, 10,2% better than last year of Rp 678 billion. In line, EBITDA is recorded at Rp 771 billion, 5,5% better than last year of Rp 731 billion. Net profit is recorded at Rp 658 billion, 61,0% better than last year of Rp 409 billion.



Company’s Recurring revenue in Q1 2023 amounting to Rp 1.084 billion, increase 28,7% compared to last year of Rp 842 billion. Recurring revenue comprised of revenue from retail mal Rp 743 billion, increasing 24% compared to last year of Rp 600 billion, revenue from office leasing Rp 80 billion, increasing 7% compared to last year of Rp 75 billion and revenue from hospitality of Rp 260 billion, increasing 56% compared to last year of Rp 167 billion in line with the recovering economy in 2022.

Company’s Development revenue Q1 2023 amounting to Rp 301 billion, decrease 35,3% compared to last year of Rp 465 billion.

Revenue per segment breakdown is retail leasing 54%, hotel dan serviced apartment 19%, office leasing 6%condominium 8%, landed houses sales 10% and office sales 3%.


Marketing Sales Q1 2023 

Company’s marketing Sales Q1 2023 reach Rp 298 billion, decreasing from last year’s Rp 380 billion. 
Sales breakdown in Q1 2023 is landed houses 47%, condominium 51% and office 2%.


Capital Expenses 

Capital expenses spent by the Company in Q1 2023 amounting to Rp 511 billion to fund the construction of Pakuwon Mall Bekasi, Pakuwon City Mall, Pakuwon Mall Jogja and Solo Baru renovation, and the purchase of hotel Four Points by Sheraton Bali, Kuta as well as the purchase of landbank.


Overview of PT Pakuwon Jati Tbk.

Pakuwon Jati, is the owner, manager, and property developer who has been in the field for 41 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 5-star hotel)
  • Hartono Mall Solo (retail shopping center)
  • Four Points by Sheraton Bali, Kuta



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
Phone : (6231) 58208788