- Business
- PT Pakuwon Jati Tbk engages in real estate development and operations in Indonesia, focusing on integrated superblock projects that combine retail shopping malls such as Tunjungan Plaza, Pakuwon Mall, Pakuwon City Mall, and Kota Kasablanka; office buildings including Pakuwon Tower and Mandiri Office Tower; residential condominiums and apartments like those in Gandaria City, Pakuwon City, and Tunjungan City; and hospitality assets managed by brands such as Marriott International, Sheraton, Four Points by Sheraton, Aloft, Fairfield, Ascott, and The Westin. The company operates vertically across the real estate value chain, encompassing land acquisition, property development, marketing, and management, with a portfolio spanning retail, commercial, residential, and hospitality segments in key locations including Surabaya, Jakarta, Bekasi, Yogyakarta, Solo, Bali, Semarang, and Batam. Established in 1982 and headquartered in Surabaya, Indonesia, PT Pakuwon Jati Tbk listed on the Indonesia Stock Exchange in 1989 and serves as the holding company for Pakuwon Group, targeting urban consumers, tenants, buyers, and travelers in major Indonesian markets. Recent developments include the opening of Pakuwon City Mall 3 in Surabaya and Pakuwon Mall Bekasi in late 2024; launches of Aloft Surabaya, Fairfield Bekasi, and Four Points Bekasi in 2025; acquisition of Four Points by Sheraton Bali Kuta; refinancing of a US$250 million bond with US$400 million of 4.875% senior unsecured notes due 2028; a September 2024 agreement with Marriott International to develop five additional properties adding over 1,300 rooms across Jakarta, Surabaya, and Batam by 2030; groundbreaking for a Semarang superblock; and recognition as one of Indonesia's Best Managed Companies in 2025, alongside 21% revenue growth in the first nine months of 2025 driven by retail performance.