PT Pakuwon Jati, Tbk.
Stock Code: PWON.IJ (Bloomberg), PWON.JK (Reuters)
PWON Maintains Stable Performance with 8% increase in Recurring Revenue

 

1Q2026 Financial Performance

PT Pakuwon Jati (PWON) delivered a stable performance in the first quarter of 2026 amid increasing global economic uncertainties, supported by the continued strength of its recurring income portfolio. Total Revenues reached Rp 1.65 trillion, representing an increase of 6% compared to the same period last year of Rp 1.56 trillion. Gross Profit rose 10% to Rp 941 billion, compared to the same period last year of Rp 857 billion. EBITDA grew 10% from Rp 834 billion last year to Rp 916 billion. PWON’s integrated superblock developments continued to deliver stable occupancy rates and consistent tenant demand across retail and hospitality segments.

 

Recurring revenue in 1Q2026 increased by 8% from Rp 1.32 trillion to Rp 1.43 trillion this period which comprises of revenue from retail mall of Rp 1.03 trillion, a 9% increase from Rp 947 billion from the same period last year, revenue from office leasing of Rp 62 billion, an 11% decrease from Rp 70 billion in 1Q2025, and revenue from hospitality reached Rp 340 billion, 11% better than the same period last year of Rp 305 billion. 

Breakdown of Revenue per segment reveals that retail leasing accounts for 63%, hotel and serviced apartment 20%, office leasing 4%, condominium 8% and landed house sales 5%.

 

Marketing Sales 1Q2026 

Company reported marketing sales in 1Q2026 of Rp 316 billion, a slight 4% decrease from Rp 331 billion from the same period last year.

Notably, 34% of the total marketing sales derived from government’s PPNDTP incentive program which has been in effect since late 2023.

Sales composition in 1Q2026 includes 69% from condominiums and office units also 31% from landed houses. 

 

Capital Expenditure

Capital expenditure for 1Q2026 amounts to Rp 164 billion, was mainly used to fund Pakuwon Mall Surabaya Phase 5 construction project.

 

Pakuwon Jati Overview

Pakuwon Jati Tbk (PWON: IDX) is a real estate developer with 44 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 apartments and hotel) 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