PT Pakuwon Jati, Tbk.
Stock Code: PWON.IJ (Bloomberg), PWON.JK (Reuters)
PWON Delivers 21% Growth in 9M 2025 Supported by Retail Sector

 

Financial Performance 9M 2025

PT Pakuwon Jati (PWON) reported another solid set of results for the nine months ended September 2025. PWON recorded net revenue up to September 2025 at Rp 5.12 trillion, an increase of 7% compared to the same period last year of Rp 4.79 trillion. Gross Profit is recorded at Rp 2.84 trillion, a 4% growth compared to the same period last year of Rp 2.72 trillion. Also recorded EBITDA of Rp 2.74 trillion, an increase of 5% compared to the same period last year of Rp 2.62 trillion while Adjusted Net Income increased by 21% from Rp 1.88 trillion last year to Rp 2.28 trillion this year, underscoring the continued strength and resilience of its mixed-use development strategy also supported by a strong recurring income.

 

 

The Company’s total Recurring revenue in nine month increased by 8% from Rp 3.81 trillion last year to Rp 4.1 trillion this year which comprised of revenue from retail mall of Rp 2.92 trillion, up 15% from Rp 2.54 trillion from the same period last year, revenue from office leasing of Rp 211 billion, a 23% decrease from Rp 275 billion last year, and revenue from hospitality of Rp 966 billion, relatively stable than last year of Rp 987 billion. 

Company’s development revenue increased by 4% mainly due to hand over of two apartment towers in Bekasi.

Breakdown of Revenue per segment reveals that retail leasing accounts for 57%, hotel and serviced apartment 19%, office leasing 4%, condominium 13%, landed house 6% and office sales for 1%.

 

Marketing Sales 9M 2025 

Company reported marketing sales of Rp 903 billion during nine-month period of 2025 mainly driven by sales of apartment units in Pakuwon Residences Bekasi, Pakuwon Mall Surabaya, Eastcoast Mansion Surabaya and Tunjungan City with support from sales of landed-houses in Grand Pakuwon township and Pakuwon City township.

Notably, 73% of the total marketing sales derived from government’s PPNDTP incentive program that has been in force since the last quarter of 2023. 

Sales composition during the nine-month period of 2025 includes 41% from landed houses and 59% from sales of condominiums and office units. 

 

Capital Expenditure

Capital expenditure up to September 2025 amounted to Rp 769 billion, was mainly used to fund Superblock Pakuwon Mall Bekasi and Pakuwon City Mall Surabaya Phase 3 construction project.

 

Pakuwon Jati Overview

Pakuwon Jati Tbk (PWON: IDX) is a real estate developer with 43 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 real estate developer with properties in Surabaya, Jakarta, Bekasi, Yogyakarta, Solo, Bali, 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 apartment towers) 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