PT Pakuwon Jati, Tbk.
Code: PWON.IJ (Bloomberg), PWON.JK (Reuters)
Year 2023, Net Profit PWON Grow 30%


Press Release

2023 Yearly Financial Performance

PT Pakuwon Jati (PWON) record 2023 yearly net revenue of Rp 6,200 billion, up 3.6% from last year of Rp 5,987 billion. Gross Profit this year is recorded at Rp 3,401 billion, up 5.7% compared to last year of Rp 3,219 billion. Meanwhile EBITDA of Rp 3,362 billion, is 2.8% better than last year of Rp 3,272 billion. Net Profit is at Rp 2,382 billion, up 30.1% compared to last year of Rp 1,831 billion.


Recurring revenue in 2023 is at Rp 4,669 billion, which is a 20.7% increase compared to Rp 3,870 billion in 2022. Recurring revenue consist of retail mall revenue Rp 3,124 billion, 18% increase compared to last year of Rp 2,641 billion, office leasing revenue Rp 304 billion, 1% increase compared to last year of Rp 300 billion dan hospitality revenue of Rp 1,241 billion, up by 34% compared to last year of Rp 929 billion.

Development revenue in 2023 amounting to Rp 1,531 billion, 27.7% less than last year of Rp 2,118 billion.

Revenue per segment is divided into:  retail leasing 50%, hotel dan serviced apartment 20%, office leasing 5%condominium 12%, landed houses sales 12% and office sales 1%.


Marketing Sales 2023 

Company’s Marketing Sales in 2023 is recorded at Rp 1,342 billion, mostly derived from the launching of new Lancaster and Clayson Tower which are part of superblok Pakuwon Mall as well as PPN DTP incentive from government in Q4 of 2023.

Sales in 2023 is composed of landed houses 35%, and condominium and office 61% and 4% respectively.


Capital Expenditure

Throughout 2023, Company has spent Rp1,890 billion to fund the construction of Pakuwon Mall Bekasi, Pakuwon City Mall, renovation of Pakuwon Mall Yogyakarta and Pakuwon Mall Solo Baru, the acquisition of hotel Four Points by Sheraton Bali, Kuta as well as the purchase of land bank in Semarang and Batam.


Overview of PT Pakuwon Jati Tbk.

Pakuwon Jati is the owner, manager and property developer who, in 2024, has been in the field for 42 years. In 1989, Pakuwon Jati was the first property developer company to be listed on BEI and has been ever since. The Company adopted a well-diversified business concept through property investment, where Pakuwon Jati develops, owns and manages commercial shopping center, 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:

  • Superblok Gandaria City, Jakarta (pusat perbelanjaan ritel, apartemen, perkantoran dan hotel)
  • Superblok Kota Kasablanka, Jakarta (pusat perbelanjaan ritel, apartemen dan perkantoran)
  • Somerset Berlian, Jakarta (apartemen servis)
  • Blok M Plaza, Jakarta (pusat perbelanjaan ritel)
  • Superblok Tunjungan City, Surabaya (pusat perbelanjaan ritel, apartemen, perkantoran dan hotel)
  • Superblok Pakuwon Mall, Surabaya (pusat perbelanjaan ritel, apartemen, apartemen servis,  dan hotel)
  • Royal Plaza, Surabaya (pusat perbelanjaan ritel)
  • Pakuwon City township (landed residential), Pakuwon City Mall (pusat perbelanjaan ritel), Amor Tower,  Pakuwon City Mall tahap 3 dan East Coast Mansion tahap 2  (pusat perbelanjaan ritel dan apartemen yang sedang dalam masa pembangunan), serta apartemen Educity, di Surabaya Timur
  • Grand Pakuwon township (landed residential) dan Food Junction (Hypermarket, culinary & leisure destination), di Surabaya Barat
  • Superblok Pakuwon Mall, Bekasi (pusat perbelanjaan ritel, apartemen, dan hotel yang seluruhnya sedang dalam masa pembangunan)
  • Pakuwon Mall Jogja dan Yogyakarta Marriot Hotel (pusat perbelanjaan ritel dan hotel)
  • Pakuwon Mall Solo Baru (pusat perbelanjaan ritel)
  • 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
Phone : (6231) 58208788