PT Pakuwon Jati, Tbk.
Code: PWON.IJ (Bloomberg), PWON.JK (Reuters)
PWON continues land acquisition in Semarang (phase 2) of 5.2 ha


Press Release

Surabaya, June 11th, 2024 – PT. Pakuwon Jati Tbk (PWON), through PT Pakuwon Permai  (a subsidiary of PT Pakuwon Jati Tbk),  continues its commitment in geographical diversification with the second phase of 5.2 hectares land acquisition in Semarang City with value of Rp 121.7 billion. The land was acquired from PT Putra Wahid Sejahtera and another individual land owner on June 6th, 2024. With the completion of this second phase, PWON has total of 18.2 hectares landbank in Semarang valued at Rp 424.5 billion.  

Minarto, Director of PT Pakuwon Jati Tbk, stated that the land acquisition was funded using Company’s internal cash.

Furthermore, Minarto stated that the 18.2-hectare land will be developed into a superblock area comprising retail, mall, hotel and apartment. This superblock project will be the 8th superblock project owned by Pakuwon. In addition, Company has enough resource to develop and manage the new superblock project. This development is expected to keep sustainability and stability to Company’s recurring revenue while significantly contributes to local economic growth.  


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. 


Below is the Company’s portfolio: 

  • Gandaria City Superblock, Jakarta (retail shopping center, apartment, office, and hotel)
  • Kota Kasablanka Superblock, Jakarta (retail shopping center, apartment, and office)
  • Somerset Berlian, Jakarta (serviced apartment)
  • Blok M Plaza, Jakarta (retail shopping center)
  • Tunjungan City Superblock, Surabaya (retail shopping center, apartment, office, and hotel) 
  • Pakuwon Mall Superblock, West Surabaya (retail shopping center, apartment, serviced apartment, and hotel)
  • Royal Plaza, Surabaya (retail shopping center)
  • Pakuwon City Superblock, East Surabaya, Pakuwon City Mall phase 3 (retail shopping center, hotel and apartment that is still under construction)
  • Pakuwon City township (landed residential) and Educity apartment in East Surabaya 
  • Grand Pakuwon township (landed residential) and Food Junction (Hypermarket, culinary & leisure destination), in West Surabaya
  • Pakuwon City Mall, Bekasi Superblock (retail shopping center, apartment and hotel that are all under construction)
  • Pakuwon Mall Jogja dan 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
Phone : (6231) 58208788