PT Pakuwon Jati, Tbk.
Code: PWON.IJ (Bloomberg), PWON.JK (Reuters)
Year 2021, EPS PWON Grew 48,7%


Press Release

Financial Performance Year 2021

PT Pakuwon Jati (PWON) booked net income of Rp 5,713 billion in 2021, an increase of 43.7% from previous year of Rp 3,977 billion. Gross Profit for 2021 is at Rp 2,764 billion, an increase of 42.4% compared to last year of Rp 1,941 billion. Meanwhile, EBITDA of Rp 2,916 billion is 42.2% better than previous year of Rp 2,051 billion. Net income per share (Earning Per Share/ EPS) grew 48,7%. 

On April 19th, 2021, the Company issued obligation of US$300 million and additional obligation on May 17th, 2021 amounting to US$100 million with interest 4.875% per annum and tenor 7 years which will be used to settle Senior Notes maturing 2024 amounting to US$250 million and for other general corporate purposes.                    


Revenue breakdown of 2021 is 47% recurring revenue and 53% development revenue which is consistent with Company’s strategy to grow with balanced composition of recurring and development revenue.

Company’s recurring revenue in 2021 is amounting to Rp 2,698 billion, an increase of 17.3% compared to that of 2020 of Rp 2,300 billion.

Development revenue of the Company in 2021 reached Rp 3,016 billion increasing 79.8% compared to Rp 1,677 billion last year.

Based on revenue per segment, biggest contributors are retail leasing  and condominium sales 33,8% and 32,6% respectively. Landed houses contributed 17,9%, Hotel dan Serviced Apartments 8,8% , office leasing 4,6%, and office sales 2,3%.


Marketing Sales 2021 increased 40% 

Low interest rate and VAT incentive from government has pushed marketing sales to reach Rp 1,434 billion in 2021, a grow of 40% compared to last year of Rp 1.026 billion. This result exceeded Company’s target of Rp 1.400 billion.  

Sales in 2021 consists of 52% landed houses and 48% office.


Capital Expenses 

Capital expenses spent throughout 2021 is to fund construction projects such as Pakuwon Mall Bekasi, East Coast Mansion, Pakuwon Mall phase 3 and 4, and Kota Kasablanka Phase 2 amounting  up to Rp 605billion.


Overview of PT Pakuwon Jati Tbk.

Pakuwon Jati, is the owner, manager, and property developer who has been in the field for 40 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)


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
Telepon : (6231) 58208788